$13.8 million worth of Samsung display tech was illegally sold in China

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11 people are being charged for the act.

Samsung’s one of the leading forces in the industry when it comes to mobile displays, and earlier this year, it took another big leap forward by unveiling its foldable AMOLED tech for the very first time. On November 29, Bloomberg reported that 11 individuals in China are now being charged for illegally selling $13.8 million worth of it.

Per Bloomberg:

The chief executive officer of a Samsung supplier and eight of his employees received 15.5 billion won ($13.8 million) after conspiring with two representatives of the Chinese company to transfer organic light-emitting diode knowhow, according to a statement from prosecutors in Suwon. The names of the companies and individuals weren’t disclosed.

Samsung Display responded to the news, saying that it’s "shocked at the results of the investigation by prosecutors, at a time when competitors are intensifying their technological rivalry."

As for how the sale took place, Bloomberg describes it as follows:

Prosecutors said the supplier sold the technology after its sales dipped and that the CEO set up a fake company headed by his sister-in-law. They accused him of building the equipment at another factory in an attempt to cover up the alleged plot."

As a little reminder, Samsung has spent in the ballpark of 150 billion won ($134 million USD) over the last six years to create its bendable OLED tech.

Samsung’s foldable ‘Galaxy X’ phone: Everything we know so far

via Android Central – Android Forums, News, Reviews, Help and Android Wallpapers

November 29, 2018 at 09:44AM