Samsung Electronics is planning on transferring hundreds of its employees from its display unit to its Semiconductor business. The news arrives as the company aims to exit the LCD (liquid crystal display) business.
According to TheElec report, the South Korean tech giant is taking applications from its employees for the transfer and is also in the process of sorting through these applications to decide who to shift. As per the report, it is being estimated that hundreds of employees will be moved. Previously, Samsung Display had already transferred about 200 staff to the semiconductor unit back in August 2020.
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For those unaware, the company is also planning to exit the LCD market completely by March of next year. While the initial plan was to quit the LCD business in 2020, but the coronavirus pandemic caused the company to delay its plans to 2021. This also arrived as Samsung witnessed a boom in the demand for LCD display panels, with it having to extend the deadline to meet customer demands.
Furthermore, Samsung Display is also set to focus on the development of quantum dot (QD) displays. The company plans on investing 13.1 trillion Won (roughly 12 billion US Dollars). A spokesperson from the company’s display unit also confirmed this transfer, although, the official had yet to comment on the matter or offer any specifics either.
