Samsung Display has confirmed that it will end all production of liquid crystal display (LCD) panels in South Korea and China by the end of this year.
At the moment, Samsung Display currently operates two LCD production sites in South Korea, as well as two in China.
It had been reported last year that Samsung Display was mulling an investment 13 trillion won ($11bn) to upgrade its South Korean liquid crystal display (LCD) plants.
That investment was to allowed it to mass produce more advanced “quantum dot” screens.
But it seems the LCD oversupply issue for Samsung was not helped by increasing competition from Chinese rivals, as well as a shift towards more advanced OLED (organic light emitting diode) panels.
And now a spokeswoman has confirmed to Reuters that it will close down production of LCD panels altogether.
“We will supply ordered LCDs to our customers by the end of this year without any issues,” the company was quoted as saying in a statement.
Samsung has not yet decided on the future operation of its factories in China, the spokeswoman told Reuters.
Local rival LG Display earlier this year announced that it will halt domestic production of LCD TV panels by the end of 2020.
LG Display last year had already converted one of its LCD production lines to an OLED production line.