Seoul [South Korea], May 30 (ANI): Samsung Display will stop producing LCDs at the end of June, six months ahead of the previously planned deadline. Industry insiders revealed competition was too strong, and Samsung Group wished to reduce its losses.

According to GSM Arena, Samsung Display will concentrate on producing OLED and QD (quantum-dot) panels, with staff expected to transfer to the QD division.

Also Read | IPL 2022: BCCI Announces Rs 1.25 Crore Prize Money for Ground Staff Across All Six Venues.

Reports from Display Supply Chain Consultants, the price of an LCD is 36.6 per cent lower than it was in January 2014, when the component was at its peak in manufacturing. This is due in large part to manufacturers such as BOE from China and AU Optronics from Taiwan joining the fight and offering lower pricing to customers.

Samsung had planned to shut down its LCD business in 2020, but due to COVID-19 and the demand for cheaper home entertainment devices (including low-cost smartphones and tablets), the company opted to postpone this major step, as per GSM Arena.

Also Read | Uttar Pradesh Shocker: Minor Boy Smashes 9-Year-Old Boy’s Head With Brick After Tiff in Madrasa.

Company personnel were unavailable for comment, and we have no information on the investment plan's specifics at this time. We'll find out more after Q2 closes and earnings reports are out in late July. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)