(C) Reuters. The logo of Samsung Electronics is seen at its office building in Seoul
SEOUL (Reuters) – South Korean panel maker Samsung Display has decided to end all of its production of liquid crystal display (LCD) panels in South Korea and China by the end of this year, a spokeswoman said on Tuesday.
Samsung Display, a unit of South Korean tech giant Samsung Electronics (KS:005930) Co Ltd, said in October that it suspended one of its two LCD production lines at home amid falling demand for LCD panels and a supply glut.
“We will supply ordered LCDs to our customers by the end of this year without any issues,” the company said in a statement.
In October, the Apple Inc (NASDAQ:AAPL) supplier said it will invest 13.1 trillion won ($10.72 billion) in facilities and research to upgrade a production line, as it contends with oversupply amid weak global demand for smartphones and TVs.
The investment for the next five years will be focused on converting one of its South Korean LCD lines into a facility to mass produce more advanced “quantum dot” screens.
The company runs two LCD production lines at factories in South Korea and two LCD-only factories in China.
Samsung has not yet decided on the future operation of its factories in China, said the spokeswoman.
Samsung Display’s cross-town rival LG Display Co Ltd said earlier this year that it will halt domestic production of LCD TV panels by the end of 2020.
Samsung Display to end all LCD production by end 2020
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.