Samsung has made their Samsung Display arm official, with the display portion of the company spinning off to become a corporation in its own right.

Samsung Display is now officially “the world’s largest display manufacturer”, with five production facilities and over 20,000 employees falling under the new company’s umbrella. The company remains wholly owned by Samsung Electronics.

Newly elected Samsung Display CEO Donggun Park said, “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.”

Samsung Display will reportedly be taking total control over Samsung’s LCD production, with the possibility of a later merger with Samsung’s Mobile Display OLED unit. LEDs are said to be remaining under Samsung Electronics’ control.

Source: CNET