Samsung Group plans to spend 13 trillion South Korean won to upgrade its display panel production facilities in South Korea, Yonhap News Agency reported, citing industry sources.
The investment will cover upgrades in its liquid crystal display production lines at Samsung Display Co. Ltd.'s plant in Asan and at quantum dot display manufacturing facilities.
The plan, which is expected to be revealed in October, is said to be in line with the company's goal of enhancing profitability in the display business using latest technologies.
The news follows a recent report that Samsung Display is suspending a liquid crystal display production line in South Korea due to "supply glut."
According to Yonhap News, Samsung Electronics Co. Ltd. Vice Chairman Lee Jae-yong wants the tech giant to maintain its large display business given the current challenges with the LCD sector.
As of Sept. 23, US$1 is equivalent to 1,195.99 Korean won.
