Samsung Supplier accused of selling Samsung Foldable Tech to China

11/30/2018
samsung-foldable-smartphone

Samsung upcoming foldable smartphone has already created so much buzz in media and public worldwide as they showed the tech in use but how it works is still unkown to the world. which makes this technology very precious but On Thursday, South Korea charged nine people with illegally selling details of the technology to China. It's none other than but

The CEO of one of Samsung’s suppliers, Toptec Co Ltd, along with eight employees of the supplier, were just charged by South Korean officials for allegedly stealing the foldable phone tech and trying to sell it to a Chinese competitor.

According to Bloomberg, prosecutors say that after a recent dip in sales, the CEO of a Samsung supplier set up a fake company and built critical bendy screen components in a separate factory before selling the tech to a Chinese screen maker between May and August for 15.5 billion won ($13.8 million).

They got caught when supplier was found loading components into a ship, which was heading to mainland china.

"Samsung spent about 150 billion won over a period of six years to develop the OLED technology that is now considered highly-classified national knowledge. Samsung plans to release at least two versions of the upcoming Galaxy S10 with curved screens next year" Bloomberg reported

"Meanwhile, Toptec is denying to accept the trade secret theft accusations--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." The supplier told Reuters

At the end, One thing which we may never know is "which Chinese manufacturer was involved in this trade secret theft accusations and tried to buy the tech, as the names of the companies and individuals in this case have not been disclosed."

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