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Liquid Crystal Displays was once a hit around the globe. People were literally flocking to lay their hands on the sleek, clear LCDs. But things have now changed over time. With better display technologies now available, LCDs are no longer the much-desirable technology and it sounds only natural when Samsung tells us that it’s LCD division went down with operational losses of $668 million last year. Now, Samsung is planning to spin off the unprofitable LCD division and convert it into a separate company which will be called Samsung Display Co.

Samsung will pay a capital of $668 million, the exact sum that is the operational losses of the LCD division during last year, to set up the new company. Analysts have speculated that over time, Samsung may merge this new spin off venture with it’s Mobile Display venture which makes organic light-emitting diode panels, commonly known as OLED panels. The demand for OLED panels have been on the rise and it is expected to continue in the coming days as more and more companies tend to opt for it over more traditional display technologies.

OLED displays are already gaining traction with Samsung using them actively in it’s devices and now LG also rumored to be considering using them in TVs soon. With the help of this technology, displays can be produced with a wafer-thin thickness and with colors much more richer than those displays by LCDs.

According to projected estimates, the global OLED market will grow to a whooping $20 billion by 2018. With such future prospects, spending in OLED is definitely a worthy investment for Samsung and Samsung seems fully aware of this opportunity.

Image courtesy Jami3.

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