Samsung turns off lights on LEDs worldwide – except in South Korea

Samsung has decided to stop pushing its light emitting diode business outside of South Korea, despite reckoning it would be a growth area a few years ago. Like Philips, Sammy has realised that LED is not, after all, where it’s at, and it will be shutting the unit down overseas. Philips recently announced it would be spinning off the majority of its lighting business, which has been around for over a hundred years, into a separate company. The firm is only hanging onto large, complex lighting systems, spinning LEDs off after a price war in the sector left profit margins looking a bit slim.