Samsung SDI Co., the South Korean battery maker commanding the world’s sixth-largest market share, has decided to sell its polarizer film business to Chinese rival Wuxi Hengxin Optoelectronic Materials for 1.12 trillion won ($834 million) to focus more on battery and semiconductor materials, the company said on Tuesday.
Samsung SDI’s crosstown rivals have already shuttered their polarizer film business or are considering selling it.LG Chem Ltd.sold off its polarizer film and related materials businesses to a Chinese rival last year, while SKC Ltd.transferred its film business to Korean private equity firm Hahn & Co.in 2022.Kolon Industries Inc.is mulling setting up a film-manufacturing joint venture with Hahn & Co.after suffering from mounting losses.
FOCUS ON BATTERY AND SEMICONDUCTOR MATERIALSAfter jettisoning the polarizer film business, Samsung SDI will focus more on battery, semiconductor and organic light-emitting (OLED) materials businesses to enhance their competitiveness in the global market and maximize synergy with its mainstay battery business, the company said in a regulatory filing.
The story "Samsung SDI relinquishes polarizer film unit for $834 mn" has 528 words across 25 sentences, which will take approximately 3 - 5 minutes for the average person to read.
Which news outlet covered this story?
The story "Samsung SDI relinquishes polarizer film unit for $834 mn" was covered 5 hours ago by Korea Economic Daily, a news publisher based in South Korea.
How trustworthy is 'Korea Economic Daily' news outlet?
Korea Economic Daily is a fully independent (privately-owned) news outlet established in 1964 that covers mostly economy news.
The outlet is headquartered in South Korea and publishes an average of 15 news stories per day.
It's most recent story was published 2 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
