Date: 31/05/2011

Samsung Electronics transfers its solar cell business to Samsung SDI

Samsung Electronics and Samsung SDI, the two companies held a temporary board of directors and approved the agenda to transfer Samsung Electronics' solar cell business to Samsung SDI for 160.8 billion won.

According to the decision, team personnel and equipments in the optical energy business of flat display business (LCD business) will be transferred to Samsung SDI.

The release states solar batteries business of Samsung SDI, IT and electric vehicle (EV), has deep relationship with the existing business, and if they establish the generation of electricity and energy storage systems in conjunction with large, high-capacity energy storage devices and solar cells, they are expected to secure differentiated competitiveness as comprehensive energy specialized company.

Samsung SDI set a goal to occupy 8% of the world's solar cell market by investing 2.2 trillion won in solar cell business and achieving 3.0GW, 3.5 trillion won in sales by 2015.