Samsung to Pay Millions to Settle Lawsuits Over Mass LCD TV Failures

From DailyTech: It would be fair to say that Samsung's display business has some serious issues.

While Samsung Electronic Comp., Ltd. (KS:005930) outsold its rivals in 2011 in both the flat-panel segment and the 3D-TV sub-segment [source], it also hemorrhaged $900M USD. The company is currently in the midst of spinning off its LCD TV business -- which ironically it just expanded via buying out a joint stake in its display partnership with Sony Corp. (TYO:6758). The deal is set to wrap up on April 1, creating a new wholly owned subsidiary of the Samsung conglomerate dubbed "Samsung Display Company". The spinoff is expected to unshackle Samsung Electronics from the losses, allowing it to aggressively pursue OLED technology development.

Finally Samsung has agreed to offer its users some financial relief. Users who paid out-of-pocket repairs costs on certain sets prone to capacitor failures can now seek to get up to $300 USD in compensation. Even users who did not pay for repairs may be eligible to a smaller settlement.

In other words, a customer who repaired the set may receive up to $600 for diagnosis, repairs, and shipping, plus $50 if they need more repairs; while a customer who ditched the set can still receive up to $450 for diagnosis and compensation.

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