Samsung supplier charged for stealing its foldable display tech

Samsung supplier charged for stealing its foldable display tech

Prosecutors charged nine people and two companies with illegally selling Samsung technology.

Today, Samsung controls more than 95-percent of the global OLED market for small- and mid-sized panels used by smartphone and tablet manufacturers. Later the information was sold to a Chinese firm for $13.8 million. The two Korean display makers LG and Samsung have already invested billions of dollars in technology and production, and the market is expected to grow rapidly in the coming years. Three out of the 11, including the company's CEO, have been arrested and are awaiting trial.

South Korean prosecutors indicted nine people, including officials of a Samsung Electronics supplier group, for allegedly selling Samsung's latest OLED display technology to Chinese rivals.

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The group is accused of using a shell company, separate phones, and personal email addresses to transmit confidential information from Samsung.

Intellectual property theft is a national concern for South Korea as it tries to maintain its narrowing technology lead over China.

Background: Samsung first commercialized curved-edge mobile OLED panels in 2014 when it released the Galaxy Note Edge which featured a single such flexible panel side. The company's prosecutor has filed a lawsuit against the president of Samsung, the supplier of Toptec, and other executives, over the illegal sales of this technology to Chinese companies.

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These days, Chinese companies are trying to steal South Korea's technology in various ways. The charge was done at the Suwon District Prosecutors office.

Toptec has grown fast by supplying a large amount of 3D lamination equipment to Samsung Display. On that occasion, the firm denied leaking trade secrets and attributed the allegations to communication issues with clients, claiming the thereof were of little to no effect.

Toptec has since issued a statement to Reuters to deny any wrongdoing.

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