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Samsung Display spinoff officially launches as 'the world's largest display manufacturer'

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Just as planned, Samsung has formally separated from its display business, which will begin solo operations "in earnest" April 3rd. The newly created -- and still 100 percent Samsung Electronics owned -- Samsung Display comes into existence immediately as "the world's largest display manufacturer" with 20,000 employees and five production facilities around the world. New president Donggun Park reiterated the company's stance that this move will better allow the display unit to stay ahead of the market, although what that might mean in LCDs, OLED or any other new technology isn't clear yet. Competitor LG has had a separate LG Display unit since 1999, which was originally a joint venture with Philips before that company sold all of its shares in 2008. As you can see from the new logo above not a lot has changed so far, but we'll see what "customized products" it can develop in the future.

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The World's Largest Display Manufacturer,

Samsung Display is Launched


SEOUL, Korea – April 2, 2012 – Samsung Display Co., Ltd, a global leader in display panel technologies
and products, announced today that it has been officially launched as a new corporation, spun off from
Samsung Electronics. Samsung Display held its inauguration ceremony yesterday and will begin business
operations in earnest after carrying out incorporation registration on April 3.

Donggun Park, executive vice president and head of the former Samsung Electronics' LCD Business
was elected CEO of Samsung Display. The company, which recorded 22.7 trillion KRW (approximately 20
billion U.S. dollars) in annual revenue in 2011 as Samsung Electronics' LCD Business, became the world's
largest display manufacturer overnight, based on its 20,000 employees and five production facilities
worldwide.

Park said at the inauguration ceremony, "We will make Samsung Display a well-respected company
through continuous efforts to supply a wide variety of customized products that provide great value to our
customers." He added, "By continually staying one step ahead of our competitors, we can make our
company the very best in the display market."

More than 350 employees attended the inauguration ceremony. At the inauguration, many reflected
on the success of Samsung Electronics' LCD Business over the past 21 years and expressed a widespread
determination to once again become 'The No. 1 Global Display Manufacturer'.

Samsung Display began as an R&D arm of Samsung Electronics in 1991 and has developed and
released some of the world's most creative and innovative displays for two decades. Now, as a separate
corporation, it will respond to rapidly changing market conditions more efficiently, while providing timely, well-
differentiated products and services this year and well into the future.

About Samsung Display Co., Ltd.

Samsung Display Co., Ltd. is a global leader in display panel technologies and products. Employing approximately
20,000 people at its five production facilities and five sales offices worldwide, Samsung Display specializes
in high-quality displays for consumer, mobile, IT and industrial usage. For more information, please visit
www.samsungdisplay.com.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
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