Samsung to stop producing LCD by June end
By MYBRANDBOOK
Samsung Display will stop producing LCDs at the end of June, six months ahead of the previously planned deadline, as the Samsung Group wished to reduce its losses due to the strong competition.
Samsung had earlier planned to shut down its LCD business in 2020, but due to COVID-19 and the demand for cheaper home entertainment devices, including low-cost smartphones and tablets, the company postponed this major step.
Samsung Display has taken the decision to end LCD production faltering by a declining global competitive edge due to cheaper products made by its Chinese and Taiwanese counterparts. However, Samsung Display will concentrate on producing OLED and QD (quantum-dot) panels, with the LCD staff expected to transfer to the QD division.
Samsung Display's decision to extend LCD production in South Korea for an unspecified period of time quashed its announcement in March that it would end all production by the end of the year to focus on more advanced technology. Samsung Display then announced that the length of the extension would depend on market conditions.
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