LG Display shares fall more than 6% on reports of prosecutors’ raid

LG Display, the world’s second- largest flat-panel maker, is reported to being investigated in relation to a competitor’s display technologies

30 April 2012

According to the report South Korean prosecutors checked LG Display’s Seoul headquarters on April 26 to probe whether the company illegally obtained organic light-emitting-diode technologies from Samsung Mobile Display. Claire Ohm, an LG Display spokeswoman, declined to comment, and a spokesman at the prosecutors’ office wasn’t immediately available to comment.

Other reports suggest that police are questioning current and former employees of both companies over allegations that Samsung Mobile workers leaked OLED technologies to LG Display.

Both LG Display and Samsung are fiercely competing for leadership in OLED panels for televisions.

LG Electronics, the parent of LG Display, and Samsung Electronics both plan to start selling OLED TVs this year, these ultra-thin produce sharper images than liquid-crystal-display sets.

LG Display 55 inch AM-OLED

www.lg.com www.samsung.com

 

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