.September 10, 2024
3:13 AM

Samsung SDI has sold its polarizing film division to a Chinese company for $836 million, signaling a strategic shift towards its core battery and energy storage businesses. This move allows the South Korean tech giant to focus on high-growth sectors like electric vehicle (EV) batteries and renewable energy solutions.

The sale of the polarizing film business will provide Samsung SDI with liquidity to invest in research and development for next-generation batteries, strengthening its competitive edge in the EV market. The buyer, a Chinese company, is likely to leverage the acquisition to enhance its position in the display manufacturing industry.

The $836 million deal is expected to bolster Samsung SDI’s financial standing, enabling the company to invest in its high-margin businesses and accelerate battery technology advancements. As the global EV market expands, Samsung SDI aims to solidify its position as a key player in the automotive supply chain.

With the global electric vehicle market projected to grow significantly, Samsung SDI’s exit from the polarizing film business positions the company to dominate the battery supply chain alongside competitors like LG Chem and CATL. This strategic move aligns with Samsung SDI’s focus on long-term growth in the EV industry.

Investors and analysts can track Samsung SDI’s performance in the battery sector using Financial Modeling Prep’s APIs, which offer real-time access to key financial metrics and company ratings. Monitoring the company’s progress in the EV market will be crucial for understanding its strategic direction and growth potential.