According to foreign media reports, a spokesman for South Korean display panel maker Samsung Display said today that the company has decided to end production of all LCD panels in South Korea and China by the end of this year.
Samsung Display said in October last year that the company had suspended one of its two LCD panel production lines in South Korea due to oversupply due to falling demand for LCD panels. Samsung Display is a subsidiary of South Korean technology giant Samsung Electronics.
The display panel maker said in a statement released today that "by the end of this year, we will still provide customers with production of LCD orders without any problems."
In October last year, Samsung Display, a supplier to Apple Inc., stated that it would invest 13.1 trillion won (approximately $ 10.72 billion) in equipment and research and development to upgrade production lines. At the time, the company believed that there was an oversupply of panels due to weak global demand for smartphones and TVs.
The company's investment focus for the next five years will transform one of its LCD panel display production lines in South Korea into a factory capable of mass producing more advanced "quantum dot" screens.
As of now, the company has two LCD panel production lines in its South Korean factory, and two factories in China specializing in LCD panels.
Post time: Apr-01-2020