The display unit of Samsung Electronics Co yesterday said that it is to extend its production of panels for TVs and monitors, as more people seek home entertainment during the COVID-19 pandemic.
Samsung Display Co’s decision to extend panel production in South Korea for an unspecified period overrides its announcement in March that it would end all production by the end of this year to focus on more advanced technology.
Samsung Display said the length of the extension would depend on profitability considerations and market conditions.
Photo: Reuters
It had in late October said that it was considering a “short-term” extension.
Local media outlet IT Chosun earlier yesterday reported that production would be extended by a year at the request of Samsung Electronics’ TV manufacturing division, citing unnamed technology industry sources.
A Samsung Display spokeswoman declined to comment on the report.
The stay-at-home trend that was sparked by the COVID-19 pandemic led to a 30 percent quarter-on-quarter increase in global panel demand in the third quarter of this year amid TV and notebook demand, technology research firm TrendForce said.
However, TrendForce added that an influx of more panels from Chinese manufacturers would likely worsen a supply glut next year.
Samsung had produced LCD panels in both South Korea and China, but earlier this year sold a majority stake in its Suzhou, China, production unit to China Star Optoelectronics Technology Co (華星光電).
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