Samsung decided to merge its three display units: Samsung Display, Samsung Mobile Display (SMD) and S-LCD. The merger is expected to close on July 1st. Samsung Electronics will control the new unit, which will also be held by other Samsung units (such as Samsung SDI). This isn't a surprise.
The new company will be producing LCD and OLED panels - for mobile devices and TVs. It seems that the company will focus on OLEDs though. Here's a quote from Samsung's PR announcing the Samsung Display spin-off back in February, stating the importance of OLED technology:
"Currently, the display market is undergoing rapid changes with OLED panels expected to fast replace LCD panels to become the mainstream. Amid this structural change of the Display industry, adopting measures for change and innovation, including business restructuring, are essential to improve our competitiveness for our Display business