UPDATE 1-Samsung Techwin to spin off camera business

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November 6, 2008

Samsung Techwin Co Ltd said on Thursday it would spin off its camera business into a separate company under the existing ownership, in a move aimed at helping the loss-making operation turn around. Samsung Techwin’s stock briefly fell by its daily limit following the announcement, but later recovered to outperform a broader market that was sharply lower. Analysts say the separation of camera business will help the share price of the company’s other profitable business units. Price competitio
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