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Samsung's Foldable Screen Tech Has Been Stolen, Sold To China (cnn.com)
Prosecutors in South Korea say that Samsung's latest bendable screen technology has been stolen and sold to two Chinese companies. "The prosecutors allege that a Samsung supplier leaked blueprints of Samsung's 'flexible OLED edge panel 3D lamination' to a company that it had set up," reports CNN. "That company then sold the tech secrets to the Chinese firms for nearly $14 million, according to the prosecutors." CNN reports: The Suwon District Prosecutor's Office charged 11 people on Thursday with stealing tech secrets from Samsung, the office said in a statement. They did not name the people or companies involved in the theft. Samsung Display, a subsidiary of the South Korean conglomerate, said in a statement Friday that it was "surprised and appalled at the results of the investigation by prosecutors."
Prosecutors said Samsung invested six years and some 150 billion won ($130 million) to develop the bendable screen. Investigators have not been able to track down and question two Chinese individuals believed to be involved in the case, and have asked Interpol to help find and detain them. Of the 11 people indicted, three have been detained.
Prosecutors said Samsung invested six years and some 150 billion won ($130 million) to develop the bendable screen. Investigators have not been able to track down and question two Chinese individuals believed to be involved in the case, and have asked Interpol to help find and detain them. Of the 11 people indicted, three have been detained.
Or they will, but instead of offloading the cost of keeping their secrets safe on governments, they’ll learn proper security. This would have the added benefit of protecting end uses of their products.
There is no proper security here. China is offering people at one company 7 times their current salary guaranteed for 3 years if they leave and come work for them with just the IP they have in their heads. You literally can not defend against that as a private company. China has promised to spend hundreds of billions before 2025 to steal the IP of western nations and stand up fabs in country to produce and sell them without the RnD costs.
The only way to deal with this is massive tariffs and trade embargoes. China is the worlds largest copying machine and deserves no respect economically on the world stage.