SEOUL (Reuters) – Samsung Electronics mentioned on Tuesday it would lengthen manufacturing of liquid crystal show (LCD) panels for TVs and screens, as stay-at-home traits of the coronavirus pandemic created an uptick in demand.
Samsung Show’s determination to increase LCD manufacturing in South Korea for an unspecified time frame overrides its announcement in March that it will finish all manufacturing by the tip of the yr to concentrate on extra superior expertise.
Samsung Show mentioned the size of the extension would rely upon market circumstances. It had mentioned in late October that it was contemplating a “short-term” extension.
Native media outlet IT Chosun reported earlier on Tuesday that manufacturing can be prolonged by a yr on the request of Samsung Electronics’ set manufacturing division, citing unnamed tech business sources.
A spokeswoman for Samsung Show declined to touch upon the IT Chosun report.
The stay-at-home pattern sparked by the coronavirus pandemic led to a 30% quarter-on-quarter spike in world panel demand within the third quarter of the yr amid extra TV and pocket book demand, in accordance with expertise analysis agency TrendForce.
Nonetheless, the agency added that the inflow of extra manufacturing capacities from Chinese language LCD makers was more likely to worsen a provide glut subsequent yr.
Samsung had produced LCD panels in each South Korea and China, but it surely earlier this yr bought a majority stake in its Suzhou LCD manufacturing unit to TCL Expertise Group Corp’s China Star Optoelectronics Expertise unit.
(Reporting by Joyce Lee; modifying by Jane Wardell)
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