Samsung to spin off digicam business|
(Thursday, November 6, 2008 - 17:09 EST)
Korea's Samsung Techwin Co. Ltd. is set to make its camera business a separate company, according to a report from Reuters today.
The new company is to be called Samsung Digital Imaging, notes the article authored by Reuters' Rhee So-eui and Ken Wills. The spin-off is expected to be completed as of Feb. 1, 2009.
Samsung Digital Imaging will have a separate stock listing, and will be founded with 31% of existing Samsung Techwin capital. The move is reportedly being made in an attempt to help turn around what's currently a loss-making operation.
Samsung Techwin is 25.5% owned by Samsung Electronics Co. Ltd.