BREAKING NEWS: Police chase leads to armed standoff in Sweet Home Full Story

Samsung's folding screen tech has been stolen and sold to China

Samsung's latest bendable screen technology has been stolen and sold to two Chinese companies, according to ...

Posted: Nov. 30, 2018 10:46 AM
Updated: Nov. 30, 2018 10:46 AM

Samsung's latest bendable screen technology has been stolen and sold to two Chinese companies, according to prosecutors in South Korea.

The Suwon District Prosecutor's Office charged 11 people on Thursday with stealing tech secrets from Samsung (SSNLF), the office said in a statement.

Companies

Crime, law enforcement and corrections

Criminal law

Law and legal system

Samsung Group

Technology

Criminal offenses

Larceny and theft

Property crimes

Espionage

International relations and national security

National security

Asia

China

Continents and regions

East Asia

Receiving stolen property

The prosecutors allege that a Samsung supplier leaked blueprints of Samsung's "flexible OLED edge panel 3D lamination" to a company that it had set up. That company then sold the tech secrets to the Chinese firms for nearly $14 million, according to the prosecutors.

They did not name the people or companies involved in the theft.

Samsung Display, a subsidiary of the South Korean conglomerate, said in a statement Friday that it was "surprised and appalled at the results of the investigation by prosecutors."

The findings come at a time of intensifying competition for new tech among rivals.

Prosecutors said Samsung invested six years and some 150 billion won ($130 million) to develop the bendable screen.

As demand for high-end smartphones begins to wane in key markets, companies have been searching for the next big thing to convince consumers to upgrade their devices.

Samsung's bendable screen had been hyped as a potential game changer. The company teased the tech at a conference earlier this month, showing images of a new folding smartphone.

Samsung is the world's largest smartphone maker, accounting for about 20% of global market share last quarter, according to research firm Canalys.

Investigators have not been able to track down and question two Chinese individuals believed to be involved in the case, and have asked Interpol to help find and detain them. Of the 11 people indicted, three have been detained.

A trial date has not yet been set.

Article Comments

Eugene
Scattered Clouds
43° wxIcon
Hi: 54° Lo: 42°
Feels Like: 43°
Corvallis
Overcast
45° wxIcon
Hi: 54° Lo: 41°
Feels Like: 45°
Roseburg
Overcast
46° wxIcon
Hi: 56° Lo: 43°
Feels Like: 46°
North Bend
Broken Clouds
47° wxIcon
Hi: 53° Lo: 44°
Feels Like: 45°
KEZI Radar
KEZI Temperatures
KEZI Planner

LATEST FORECAST

Community Events

 

 

 

Ask the Banker 

  Enter Contests