South Korean screen manufacturer, Samsung Display said on Tuesday that it would be halting all production of LCD panels in South Korea and China by the end of 2020. The company is doing this in order to produce more advanced screen panels, according to its spokesperson.
The extension of tech giant Samsung Electronics Co Ltd previously said in October that it had postponed one of its LCD productions lines in South Korea as demand declined.
Later, the company announced that it would be investing 13.1 trillion Won ($10.72 billion) for the expansion of facilities as well as research to improve manufacturing. The investment in 5 years will be concentrating in turning one of its South Korean LCD plants to mass produce the more advanced ‘Quantum Dot’ panels.
The company currently has two LCD production lines in plants located in South Korea and two more in China. Samsung has yet to release information on future plans for its factories in China.