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Business deals

Japan Display to spin off smartphone panels for more funds

Apple's largest display supplier inches closer to reaching bailout goal

JDI plans to focus on automobile-use products after spinning off its smartphone panel operations.

TOKYO -- Cash-strapped LCD maker Japan Display said Friday it will turn the company's smartphone panel business into a separate subsidiary and seek infusions of outside capital as the company scrambles to cobble together a viable restructuring plan.

The spin-off will take place by the end of the year, the company known as JDI said Friday. Chinese liquid crystal display makers Visionox, TCL and Tianma Microelectronics are among the companies interested in buying a stake in the new unit, sources say.

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