Samsung seems like dealing with betrayal as its supplier allegedly leaked its OLED display technology.
Samsung betrayed by a Korean company?
Numerous reports emerged yesterday after prosecutors in Suwon, South Korea charged the top official of Toptec Co. Ltd., one of Samsung’s suppliers, as well as eight of his employees for selling Samsung’s display technology to an unknown Chinese firm.
According to authorities, the nine personalities established a shell company to get a hold of Samsung’s confidential documents related to its display panels.
The group then market these documents, specifically the “3D lamination” technology, for just USD 13.8 billion or 15.5 billion won.
The bitter truth was the amount they illegally earned was just 10 percent of what Samsung originally coughed up to create the technology.
Prosecutors said Samsung invested 150 billion won or USD 134 million, hired 38 engineers, and patiently developed the technology for six years, which has become South Korea’s national core technology.
Samsung Display, in a statement released to Bloomberg, said it was “shocked at the results of the investigation by prosecutors, at a time when competitors are intensifying their technological rivalry.”
Toptec, however, denied the allegations and expressed willingness to cooperate with legal proceedings.
Our company has never provided Samsung Display’s industrial technology or business secrets to a Chinese client.
Although the prosecutors did not mention the recipient, a report from Nikkei said an industry source revealed that the buyer of Samsung display technology was BOE Technology Group, a key screen supplier of smartphone competitor Huawei.
What can you say about this news? Leave your thoughts in the comments!
Source: ^(, ^(