“Currently, the display market is undergoing rapid change with OLED panels expected to quickly replace the LCD panel to become mainstream,” Samsung said in a statement. “In the midst of structural changes the display industry, the adoption of measures for change and innovation, including the restructuring of the business, it is crucial to improve the competitiveness of our business for our view.”
After the spinoff is completed, “the new company will consider adopting various measures of restructuring including merger with Samsung Mobile display and S-LCD Corporation,” Samsung said, acknowledging that more cost-cutting moves were in the way.