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Police raid Samsung office over alleged LG OLED technology theft

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Samsung OLED (STOCK)
Samsung OLED (STOCK)

Samsung Display's offices in Asan, South Korea have been searched by police investigating the possible theft of OLED TV technology. A Samsung spokesperson told Bloomberg that the police were looking for evidence that people connected with LG had leaked secret OLED data to its great rival. "We have no reason to steal other companies’ technology, as we have the world’s best OLED technology," said another spokesperson for Samsung. LG, meanwhile, said it didn't report Samsung to police in connection with the incident.

The two companies sparred over a similar matter last year; eleven people were charged with selling OLED technology in the other direction, and Samsung later accused LG of stealing its intellectual property before the two companies agreed to settle their legal disputes outside of court. The two companies both announced the "first" large-panel OLED TVs at CES 2012, and LG's model is currently scheduled to hit the US in the second half of this year after slipping from its March release date. Samsung is yet to announce launch plans for its own OLED set.