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Samsung to discontinue all LCD production by end 2020

Samsung will invest $356 billion in five years. Source: Reuters. 
SEOUL: South Korean panel maker Samsung Display has decided to end all of its production of liquid crystal display (LCD) panels in South Korea and China by the end of this year.
A company spokeswoman informed an international news agency that Samsung Display, a unit of tech giant Samsung Electronics, will stop producing LCD panels by the end of the year.
Samsung Display said in October that it suspended one of its two LCD production lines at home amid falling demand for LCD panels and a supply glut. “We will supply ordered LCDs to our customers by the end of this year without any issues,” the company said in a statement.
In October, the company 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.
The investment for the next five years will be focused on converting one of its South Korean LCD lines into a facility to produce advanced “quantum dot” screens that will use OLED rather than LCD panels.
The company runs two LCD production lines at factories in South Korea and two LCD-only factories in China. Samsung has not yet decided on the future operation of its factories in China.
Samsung Display’s rival LG Display said earlier this year that it will halt domestic production of LCD TV panels by the end of 2020. Samsung could close all its South Korean LCD production lines and make up the difference with panels bought from Chinese manufacturers.
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