In what appears to be a classic case of industrial espionage gone wrong, several employees of an Israeli industrial equipment inspection firm have been arrested in Korea for stealing OLED TV technology secrets from both LG and Samsung.

Apparently the goal was to steal the technology and relay it to several Taiwanese and Chinese TV manufacturers in an attempt to capitalize on LG and Samsung’s RD work, thus saving the companies receiving the information a lot of money in upfront investment costs that would normally be needed for a new technology.

The bottom line: the companies receiving the stolen technology would have the means to undercut both LG and Samsung by possibly flooding the market with more affordable OLED TVs – great for consumers on the short term, but would be a big blow to both LG and Samsung, who actually spent all the money and time to bring large screen OLED TVs to market.

For details on the plot, how it was executed, and additional information regarding the arrests, read the report from the Yonhap News Agency.

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