SEOUL, June 29 (Yonhap) -- Samsung Display Co. is set to wrap up the integration process of its parent group's display-related affiliates and set sail as the world's top firm in the field, the company said Friday.
The fully-integrated firm, which will officially launch on July 1, will encompass Samsung Mobile Display Co., S-LCD Corp. and a liquid-crystal display (LCD) business that was spun off from Samsung Electronics Co. in April.
Samsung Mobile Display, which manufactures organic light-emitting diode (OLED) products, is a 50-50 joint venture between group affiliates Samsung Electronics and Samsung SDI Co. S-LCD, first launched as a joint venture between Samsung Electronics Co. and Japan's Sony Corp., focuses on LCD panels.
Upon full integration, Samsung Display is set to become the No. 2 affiliate of the country's biggest conglomerate with roughly 26,000 employees and assets worth 33 trillion won (US$29 billion).
The company is also expected to secure a top spot in the display industry. The combined revenue of Samsung Display and Samsung Mobile Display reached 29.2 trillion won last year, putting it ahead of rival LG Display Co.'s 24.2 trillion won.
Market watchers forecast the integration to prop up Samsung's sluggish LCD business and drive its sales to over 30 trillion won.
Samsung's LCD business has been suffering from an industry-wide slump, posting losses for the fourth consecutive quarter in the last three months of 2011.
Samsung Display is scheduled to wrap up its integration by holding a board and shareholder meeting on Monday, where it will appoint a company head.