In October last year, Samsung Display announced that it has suspended one of its two LCD production lines in South Korea amid falling demand for LCD panels and now, a spokeswoman for the panel maker has revealed that the company will stop manufacturing LCD panels by the end of 2020, Reuters is reporting.
In October, the Apple Inc 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.
“We will supply ordered LCDs to our customers by the end of this year without any issues,” the company said in a statement.
Samsung has not yet decided on the future operation of its factories in China, added the spokeswoman.
The report also notes that over the next five years, Samsung Display, a unit of South Korean tech giant Samsung Electronics, will be focusing its investment on converting one of its South Korean LCD lines into a facility to mass-produce more advanced “quantum dot” screens.
Samsung Display currently runs two LCD production lines at factories in South Korea and two LCD-only factories in China.