Samsung SDI, Elec to set up joint display venture

SEOUL, July 25 (Reuters) - Display maker Samsung SDI (006400.KS) said on Friday it would spin off its mobile display businesses in September into a joint venture with affiliate Samsung Electronics Co Ltd (005930.KS).

Samsung Electronics, which already agreed to take over the management of Samsung SDI's ailing plasma display business, said it would spend 938.5 billion won ($931.5 million) to set up the joint venture.

Samsung SDI, which sells PDP screens, traditional cathode-ray tubes (CRTs) and next-generation organic displays, has suffered losses in the past six consecutive quarters due to falling panel prices. ($1=1007.5 Won) (Reporting by Rhee So-eui; editing by Jonathan Hopfner)