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South Korean prosecutors have indicted the chief executive officer and eight other Toptec Co employees for allegedly selling information on Samsung's flexible OLED displays to a Chinese company. The charges state that the company has received more than $ 13.8 million for this information, reports Bloomberg.
Toptec, a Samsung supplier that manufactures display hardware, denied the charges in a statement. "Our company has never provided Samsung Display's industrial technology or business secrets to a Chinese customer. Our society will cooperate fully with the judicial process to find the truth in the courts. The company's stock price was down 20% at the time of writing.
Samsung's flexible display technology probably makes you think of their collapsible, strange and unpublished phone, which they had just shown earlier this month. Samsung has long been at the heart of the flexible display industry, even though its turns have been less acute than those of much older phones, like the Galaxy S6 Edge.
Chinese company has not been named in the lawsuit, but a number of companies are working on the production of flexible screens for smartphones.
The national interests of South Korea are intimately linked to Samsung's commercial relations and the threat of intellectual property theft in China is one that they seem to take very seriously. We contacted Samsung for a comment.
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