Samsung Spins Off Its Display Business

redletterdave writes "Samsung Electronics announced Monday that it will spin off its LCD business division to launch a new entity, provisionally called Samsung Display Co., set to go live on April 1, 2012. The new business will launch with about $668 million in capital, but Samsung plans to invest about $5.8 billion in 2012 to develop better displays. The move, which now awaits shareholder approval, has been rumored for months since Samsung's LCD business announced operating losses of $666 million in 2011, citing sluggish TV sales. The company's spin-off display business may eventually merge with Samsung Mobile Display, which makes the company's organic light-emitting diode (OLED) panels that are currently in high demand."