Samsung Electronics moves solar battery business to affiliate
Samsung Electronics is to move its solar battery business to its affiliate Samsung SDI for 160.8billion won ($147.6million). Samsung Electronics will pass over its solar battery workforce – approximately 300 people - and equipment as of 1 July.
As well as solar batteries, Samsung SDI says its other growth drivers will be LEDs, medical equipment, healthcare businesses and hybrid electric car batteries.
The decision has been made in a bid to streamline the organisation and maintain its focus on electronics such as memory chips, lcd panels, smart phones and home appliances.
