SEOUL, July 16 (Yonhap) -- Samsung Mobile Display Co., an affiliate of tech giant Samsung Electronics Co., on Monday urged its rival LG Display Co. to formally apologize and take necessary actions over an alleged tech leak.
Eleven people, including executives from the world's No. 2 maker of liquid-crystal display (LCD) panels, were indicted Sunday on charges of leaking or taking core display technology from Samsung.
Six other suspects involved in the incident were former or current researchers at Samsung Mobile.
"Our company, which claims about 97 percent of the world's organic light-emitting diode (OLED) screen market, is now on the verge of losing trillions of won from the leak," an official from Samsung said.
"Executives of LG Display, which lacks OLED technology and related human resources, took the lead in this criminal act in order to overcome their shortcomings as quickly as possible," the company added.
Samsung condemned LG's alleged involvement as a grave crime and said the company must take responsibility for the incident, which it argued was masterminded at the corporate level.
OLED panels, which feature slimmer and more vivid screens than common liquid crystal display screens, are much sought after by tech companies around the globe.
Meanwhile, LG Display refuted the allegations and announced it will sue Samsung for defamation in the future.
"LG Display's products boast excellent technology and even received a presidential award with the OLED panel for 55-inch screens," the company said.
"We do not need Samsung's technology which works under a totally different display system," it added.
The company said in a statement that it will make full-fledged effort to reveal the truth, and expressed hope that court proceedings will support LG's innocence in the matter.
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