SEOUL, Sept. 24 (Korea Bizwire) — Samsung Group is planning to announce a massive investment plan next month to upgrade its display panel production facilities in South Korea, industry sources said Tuesday, as the nation’s largest conglomerate seeks to enhance profitability in the large display business with its latest technologies.
Samsung is expected to unveil the 13 trillion-won (US$10.8 billion) investment plan to upgrade its liquid crystal display (LCD) production lines at Samsung Display Co.’s plant in Asan, 100 kilometers south of Seoul, to quantum dot (QD) display-manufacturing facilities, according to industry sources.
Market watchers said Samsung will be eager to set up production lines for its QD display panels, as the profitability of its LCD business has been falling in the face of competition with Chinese rivals.
The latest plan comes after Samsung Electronics Vice Chairman Lee Jae-yong visited Samsung Display’s plant last month.
Lee earlier said the company should not give up its large display business due to the difficulties currently facing the LCD sector.
He also called on the company to redouble its efforts to develop new technologies in order to play a leading role in the future.