Samsung's display unit plans $3 bln share sale

SEOUL, March 18 Fri Mar 18, 2011 4:10am EDT

SEOUL, March 18 (Reuters) - Samsung Mobile Display said on Friday that it would place new shares worth 3.4 trillion won ($3 billion) to its shareholders Samsung Electronics Co (005930.KS) and Samsung SDI (006400.KS) to boost production of next-generation mobile displays.

The 50-50 joint venture is the world's top producer of organic light-emitting diodes (OLED), a display in severe short supply due to strong demand from high-end mobile gadgets such as smartphones and tablets.

Samsung Mobile Display said the breakdown of the share placement between its parent companies had yet to be decided.

(Reporting by Miyoung Kim; Editing by Jonathan Hopfner)