Samsung Electronics announced earlier this year that it intended to spin off its LCDdisplaybusiness. The spinoff is due in part to poor profits in the LCD display segment. The new company is to be called Samsung Display and it had its official inauguration ceremonies yesterday.
The company will start operations in earnest on April 3 after carrying out its incorporation registration. Samsung Display calls itself the largest display manufacturer in the world based on 20,000 employees and five production facilities. The CEO of the new company will be Donggun Park, who was in charge when the business was part of the Samsung Electronics umbrella.
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