The leader in the Liquid Crystal Display (LCD) market Samsung has announced that they are getting out of business this year due to falling prices and increased competition.
Samsung popularly known for its screens in TVs, smartphones, tablets and many more was established in 1991 under business unit called Samsung Display.
Samsung Display was formed to make the panels used in the products made by its parent company Samsung Electronics and later become the leading supplier of LCD panels for Samsung and other companies.
According to The Korea Times, Samsung announce its move to close LCD business in late 2020 but due to increased demand as a result if the pandemic Samsung kept business running.
“Samsung Display has decided to close its liquid-crystal display (LCD) business in June, hobbled by a declining global competitive edge due to cheaper products made by its Chinese and Taiwanese counterparts, according to the industry, Sunday. No investment plan details have since been announced.”
Despite the fact that the demand of LCD increased during the pandemic Samsung highlighted that they can no longer continue with the operations since prices were 58% lower in April 2022 than at their peak in June 2021.
Moving forward Samsung will be focused on OLED and quantum dot (QD) displays. LCD employees will likely to be moved to the QD business.