Samsung SDI one of the many companies of the largest Korean Chaebol Samsung has become the Green Sword Arm.Note Samsung SDI already is responsible for the Lithium Battery and Flat Panel Manufacturing for the Samsung Group.Now Samsung Electronics the parent company of the Group has transferred the solar panel business to Samsung SDI for 161 billion won.This will focus the Green activities of the Samsung Group to Samsung SDI as it looks to become one of the largest Green players in the world.Note Samsung has decided to invest billions into the Green Industry egged on by the Korean government and its own forecast of the various Clean Tech Sectors becoming huge growth areas in the future.Note a number of MNC conglomerates like GE,Honda,Hyundai,LG have already made major investments into the solar energy industry.Samsung too has decided to get into the industry by manufacturing solar panels using crystalline solar technology.
Samsung SDI has made an ambitious plan to invest $2 billion into the solar power to capture 8% of the global market by 2015.Given the track record and the massive resources of the Samsung group it may not be a castle in the air.However it remains to be seen how successful it will be given that Korean Solar Energy is itself seeing massive investments and rivalry between the big chaebols.Note the competition in the solar energy market is fierce and is currently seeing a major price war which has already resulted in big time casualties like Evergreen solar.It seems a tough target for Samsung SDI given that it does not even figure in the top 20 global solar panel manufacturer list as of now.
Samsung SDI said on Friday it would invest 2.2 trillion won ($2 billion) in the solar battery business by 2015 to generate 3.5 trillion won in revenue from a new business it is acquiring from its affiliate Samsung Electronics.Solar batteries account for one of five areas that Samsung Group had identified as its next growth drivers last year along with car batteries, light emitting diode (LED), medical equipment and healthcare businesses. The group plans to invest a total of 23 trillion won in the new businesses.
The group’s flagship firm, Samsung Electronics, said on Friday it would transfer its solar battery operation to Samsung SDI for 161 billion won to focus on its core business.Samsung SDI, which also makes rechargeable batteries and plasma flat screens, said it aimed to secure 8 percent of the global solar battery market by 2015.