Samsung to invest $11 billion in next-generation display technology
Samsung Display, a display panel-making unit of Samsung Electronics, plans to invest $11 billion in next-generation display panel projects by 2025.
Panel maker shifting away from LCD production to stand up to Chinese rivals
St/pocks impacted: Samsung Display (005930)
The company will invest $8.4 billion in revamping its existing LCD production line and $1.6 billion in research and development for the next-generation display panels. The investment announcement comes just after the company’s decision to end smartphone production in China in order to enhance efficiency in its manufacturing. Also, the investment is expected to create 81,000 jobs. Samsung Electronics’ share prices last traded down 0.72%.
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