Business Standard

Samsung planning to close LCD panel manufacturing soon, says report

South Korean tech giant Samsung is reportedly planning to close down its LCD production lines

Samsung will pay a rent of Rs 1.94 crore a month for the first three years and see around 15 per cent escalation every three years. At Rs 55 per sq ft per month, the deal is aligned with market rates, said experts.

IANS Seoul
South Korean tech giant Samsung is reportedly planning to close down its last liquid-crystal displays (LCD) production lines.
The decision to close the LCD business, by Samsung Display, will be completed by June of 2022 as the company faces tough competition from its Chinese and Taiwanese counterparts, reports GizmoChina.
The company has decided to focus on manufacturing organic light-emitting diode (OLED) and quantum dot (QD) displays, as OLED panels have started to become the norm in the smartphone market.
That being said, the main reason for the shutting down of LCD panel production is the reduced profits in the venture, as per the report.
A recent Display Supply Chain Consultants (DSCC) revealed that the price of an LCD is 36.6 per cent of what it used to be in January 2014, the component's peak production period.
No investment plan details have since been announced, and the employees of the LCD business are expected to be transferred to the QD business, the report said.
Samsung Display had decided to close its LCD business in late 2020, but the plans were delayed at Samsung Electronics' request due to a sudden increase in the prices of LCD panels during the Covid-19 pandemic.
--IANS
vc/shb/

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 31 2022 | 11:05 AM IST

Explore News