Tuesday, July 17, 2012

Corporate Espionage: LG Workers Accused Of Theft From Samsung Over OLED Technology

Tech giant Samsung is urging rival LG to apologize after charges of corporate espionage relating to Samsung’s OLED display technology, reports Saeromi Shin for Bloomberg.
Earlier this week, eleven employees of display manufacturer LG were charged with leaking technology from Samsung, according to Korean newswire Yonhap. LG executives were included in the group, with six of them being identified as former or current employees at Samsung Mobile.
In a statement, Samsung said it stands to lose “trillions of [Korean currency] won” from the leak. “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,” it added.
However, in a statement sent to Yonhap news agency, LG denied any allegations of involvement and promising to sue its Korean rival for defamation. “LG Display’s products boast excellent technology and even received a presidential award with the OLED panel for 55-inch screens. We do not need Samsung’s technology which works under a totally different display system.”

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