Someone Illegally Sold Samsung Upcoming Technology To Rivals

We all know how cool the display on the Samsung phone is and this is because of years of hard work and money they invested in the technology. And the bad news came for Samsung when they got to know that someone, from their supplier, allegedly leaked the flexible display technology the Korean giant owned, Reuters reported.

The South Korean prosecutors have indicted a company Toptec Co Ltd including their CEO and eight other employees who sold documents about Samsung’s organic light-emitting diode (OLED) panels.

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Toptec Co Ltd is accused of creating a shell company that received documents and drawings about Samsung’s panels and the information of equipment for producing them. Prosecutors believe the Toptec which obtained the information from Samsung Display, a subsidiary of Samsung and passed it on to this newly formed company which eventually sold it to some Chinese rival for 15.5 billion won ($13.85 million).

However, Toptec communicated with Reuters and denied the involvement.

“Our company has never provided Samsung Display’s industrial technology or business secrets to a Chinese client. Our company will fully cooperate with legal proceedings to find the truth in court,” Toptec said in a statement.

Prosecutors told that Samsung Display invested $134 million and a team of 34 engineers took six years to develop this intellectual property which was leaked earlier this year.

Samsung Display team stated that it is keeping a close eye on the investigation and putting every effort to ensure such a leak doesn’t happen again.

source: androidauthority


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