South Korea's Samsung Electronics and its Samsung Motors will jointly set up a light-emitting diode (LED) business unit to seize this fast-growing energy-saving lighting technology field.
It is reported that LED is more energy efficient, and its endurance is better than traditional lighting, and it is increasingly used in mobile phones to thin TVs.
According to a survey by Samsung's research institute, the global LED market will expand at an annual growth rate of about 20% in the next five years, from $5.2 billion in 2009 to $12.7 billion in 2013.
Samsung Motor said in a statement on Tuesday that it will set up a joint venture with Samsung Electronics to hold a joint venture with Samsung Electronics (Samsung LED).
This news caused Samsung Motor's share price to jump for 4.3%, and pulled back to close at 0.47%, but the performance still surpassed the 4.11% Korean stock index. Samsung Electronics closed down 2.68%.
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