Samsung Electronics has snatched up a US based company called YESCO Electronics, who specializes in manufacturing LED displays. YESCO is based out of Utah, and Samsung has announced the acquisition as of today according to the Wall Street Journal. What isn’t known is what exactly Samsung paid to purchase YESCO as it’s likely Samsung wants to keep those details away from the public. Samsung already makes a number of their displays with LED light technology in them, as many of their mobile devices use Super AMOLED displays for example.
While Samsung is keeping the details of the acquisition cost quiet, they have mentioned the reasons for purchasing up the company, which is a mutual benefit for both companies to help make long lasting displays. In a statement to the WSJ, Samsung says that they’re goal is to “work with YESCO Electronics to deliver durable, long-lasting displays geared for varied and extreme conditions.” It’s unclear at this point if Samsung has additional plans for YESCO other than using part of their technology to create displays that are marketed towards extreme conditions, however it wouldn’t be out of the ordinary for Samsung to roll some of this tech into their own display technology down the line for its wide variety of products.
This acquisition of YESCO follows the announcement that Samsung was picking up LoopPay, a popular mobile payments company that developed a mobile payment solution technology called MST, which Samsung is now using in their new Samsung Pay service. LoopPay’s technology has allowed Samsung to set themselves up with a mobile payment solution that will be more compatible than its main rival, Apple Pay, thanks to the ability of Samsung Pay being readable by mag stripe machines. Consumers will be able to use Samsung Pay by simply tapping the back of either the Galaxy S6 or Galaxy S6 Edge(the first two phones which will debut with Samsung Pay when they launch)to a magnetic stripe reader at checkouts in potentially millions of retailer locations. In the same way Samsung is using LoopPay’s technology to further their own mobile offerings, they could end up using YESCO to help create more durable displays for its mobile products as well as TV’s monitors and anything else Samsung puts a display on.