LG Display Workers Charged Over Samsung Mobile Technology Theft
Six employees of LG Display Co. (034220), the world’s second-largest flat-panel maker, have been charged over theft of technology from Samsung Mobile Display Co.
The six leaked or stole Samsung Mobile’s organic light- emitting diode technology and business secrets, according to an indictment filed with Suwon District Court in South Korea. The accused include two former Samsung Mobile employees.
Samsung Mobile requested LG Display formally apologize and take steps needed to prevent reoccurrence, the company, merged with Samsung Display Co. this month, said in an e-mail today in response to questions. LG Display systematically took Samsung’s OLED technology and core staff to overcome its own shortcomings, according to the e-mail.
The information obtained is widely known in the industry and isn’t considered a trade secret, LG Display said in a separate e-mail. Seoul-based LG Display said it plans to take legal action against Samsung Display, a unit of Samsung Electronics Co. (005930), for defamation.
LG Display rose 1.8 percent to 23,100 won as of 11:46 a.m. in Seoul trading, while Samsung Electronics advanced 1.1 percent to 1,165,000 won. Samsung Display isn’t publicly traded.
OLED televisions are as thin as 4 millimeters (0.2 inch) and produce sharper images than liquid-crystal-display models. Shipments of OLED TVs may surge 62-fold to 2.1 million sets in 2015 from 34,000 in 2012, according to an estimate by Englewood, Colorado-based IHS Inc.’s iSuppli.
To contact the reporter on this story: Saeromi Shin in Seoul at sshin15@bloomberg.net
To contact the editor responsible for this story: Anand Krishnamoorthy at anandk@bloomberg.net
LG Display Workers Charged Over Samsung Mobile Technology Theft
Jean Chung/Bloomberg
Samsung Mobile requested LG Display formally apologize and take steps needed to prevent reoccurrence, the company, merged with Samsung Display Co. this month, said in an e-mail today in response to questions.
Samsung Mobile requested LG Display formally apologize and take steps needed to prevent reoccurrence, the company, merged with Samsung Display Co. this month, said in an e-mail today in response to questions. Photographer: Jean Chung/Bloomberg
June 28 (Bloomberg) -- Bloomberg's Rich Jaroslovsky reviews Samsung Electronic Co.'s Galaxy S III and Sony Corp.'s Xperia Ion smartphones. Both phones run on Google Inc.'s Android operating system. (Rich Jaroslovsky is a Bloomberg News columnist. The opinions expressed are his own. Source: Bloomberg)
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