Samsung Corning, a South Korean manufacturer of indium tin oxide films for flat panel displays, refuted talks that the company plans to restructure its operations as it looks to diversify its electronics business portfolio.
A spokesperson for Samsung Corning said the company, pursuing the diversification plan, aimed to stay active in the indium tin oxide market, maintaining its status as a major ITO target material supplier to the country's electronics industry as well as being a major consumer of indium ingot. There were no changes in the company's product portfolio either, he added.
The company operates an ITO production plant in Gumi in South Korea. Sales from ITO products account for around 10% of Samsung Corning's total sales, which was around Won 1 trillion ($1 billion) on a non-consolidated basis in 2006. The company expects its 2007 sales to stay flat from last year.
Samsung Corning is one of the leading consumers of indium ingot in the world. The company was established in 1973 as a fifty-fifty joint venture between Korea's Samsung Electronics and US-based Corning.
Meanwhile, another source in the Samsung group said that there had been local media reports that the back light unit business has been a concern for Samsung Corning and that the restructuring of this segment was a possibility. The spokesman refuted this, adding that there were no changes for back light unit production plans at its plants in South Korea or overseas.
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