Samsung's spun-out LED business Samsung Displays has completed its merger between the three-month old entity, and its Samsung Mobile Display and S-LCD corporations. The deal has created the world's largest display manufacturer, which happened back in April, but the latest news moves push the business to have 39,000 employees with seven production facilities across the world.
Oh-hyun Kwon, vice chairman and CEO of Samsung Electronics, spoke at an investor meeting about the revised company, where he talked of the combined efforts will help the company develop its business:
Samsung Display is destined to attain virtually unlimited growth, through continuous efforts to combine our proven know-how in the display field with an overwhelming creative spirit. Our combined strengths will guide Samsung's display business through the next decade and longer, in turning the many synergistic benefits of the company into far-reaching, tangible results.
Samsung says that the new deal will see the company's LCD and OLED teams work more closely together, with their OLED technology will be combined with "large panel operations". The triple merger has tacked on an additional 19,000 employees and has made Samsung Display the second largest affiliate of Samsung Electronic Group, with assets worth $29 billion.
Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.