Samsung LED becomes part of Samsung Electronics
Samsung Electronics has announced that it will merge its LED division with its broader corporate entity effective April 1.
The purpose of the merger is, says Samsung, "to nurture the LED business as Samsung Electronics’ future growth engine" by utilizing its advanced technology, manufacturing competency, and global sales network.
The merger deal is expected to be signed on January 20, 2012 and then go into effect from April 1, 2012 after receiving approval at Samsung Electronics’ and Samsung LED’s Board of Directors meetings.
Strategies Unlimited told LEDs Magazine that Samsung’s LED sales for Q1-Q3 2011 were down 15% year-over-year. Preliminary numbers for Q4 indicate weak sales relative to 2010 due to low capacity utilization (around 50%).