Prosecutors in South Korea have accused the boss and eight other employees of Toptec Co for allegedly selling information about Samsung's flexible OLED monitors to a Chinese company. The cost details that the company received over $ 13.8 million for the information, reports Bloomberg.
Toptec, a Samsung supplier that supplies display-related equipment, has denied the costs in a statement. "Our company has never given Samsung Display Industrial Technology or business secrets to a Chinese client. Our company will fully cooperate with litigation to find the truth in court." The company's share price is down 20 percent at writing time.
Samsung's flexible display technology makes you think of their weird and yet -released foldable phone as they just showed up earlier this month. Samsung has been deep in the flexible display industry for a while, even though their bends have been less acute as the design of much older phones like the Galaxy S6 Edge.
The Chinese company was not named in the suit, although it is a number of companies working to produce flexible screens for smartphones.
South Korea's national interests are deeply confused with Samsung's business relations, and the threat of intellectual theft to China is one that they seem to take very seriously. We have come out to Samsung for comment.