South Korea's Samsung Electronics Co., the world's biggest maker of televisions, is shifting its focus toward new generation OLED display technology, and said it will spin off its loss-making LCD flat-screen business into an affiliate.
The outlook for liquid crystal display TVs has dimmed as shoppers in developed markets have traded in their bulky cathode-ray tube TVs for flat screens, and competition has intensified from low-cost Chinese manufacturers.
Together, Panasonic, Sony and Sharp expect to lose $17 billion this year, highlighting the savaging of Japan's electronics industry, and TV makers in particular, by foreign rivals such as Samsung, weak demand and a strong yen.
Samsung's LCD division had an operating loss of $666 million last year.
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