Daily Management Review

Samsung to invest $ 11 billion in new generation displays


South Korean Samsung Display Co. plans to spend 13.1 trillion won ($ 11 billion) on development and production of next-generation displays in the face of growing pressure from Chinese competitors, Bloomberg reports.

Jamie McCall via flickr
Jamie McCall via flickr
During the company’s event, which was also attended by South Korean President Moon Jae-in and Samsung Electronics Co. Vice President Lee Jae-yong, it was announced that this investment was intended to reorganize the display industry. At the same time, the company intends to maintain a leading position in the global market and dominate the Korean market.

To achieve this, the South Korean government will invest about 400 billion won in new display technologies, said Moon Jae-in.

According to the company, Samsung Display will build a line for the production of quantum dot displays in the city of Asan, which will start operating in 2021. Its initial capacity will be 30 thousand panels with a diagonal of more than 65 inches. The production capacity will be increased later. The long-term development plan is designed until 2025. According to company estimates, the investment will create 81 thousand new jobs. 

source: bloomberg.com

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