Samsung has decided to halt the production of its LCD panels in its factories in China and South Korea by the end of the year.
In October 2019, the company suspended one of its two LCD production lines due to the falling demand in LCD panels. The number of supply has also exceeded the demand, lowering the prices. Attempting to fight oversupply despite the decreasing demand of LCDs in smartphones and TVs, Samsung Display also shared that it will invest USD 10.72 billion in facilities and research for its production line.
Samsung also assures its clients that it will still supply all purchased LCDs within 2020.
For the next five years, it will focus more on converting its South Korean factory into a headquarters for developing “quantum dot” displays.
Samsung Display is a unit under the South Korean Giant Samsung Electronics Co Ltd.
Source: Reuters
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