Samsung Display has announced that the company will indefinitely extend the production of LCD panels for TVs and monitors as the demand for these products has increased during the COVID-19 pandemic.
For those who are unaware, the South Korean giant had announced earlier this year in March that it will end the production for all LCD panels by the end of this year and will instead focus on advanced technology.
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However, Samsung Display hinted about this move a couple of months back when Samsung revealed that it is considering a short-term extension. While it has officially extended the production for LCD panels, the company said that the length would depend on the market conditions and profitability.
Samsung had been making LCD panels in South Korea as well as China. But earlier this year, in August, the company sold a majority stake in its Suzhou LCD production unit to TCL Technology Group as the company shifted its focus towards the production of LED panels and the next-generation QD panels.
According to the report from TrendForce, due to the work-from-home or stay-at-home trend sparked by the COVID-19 pandemic this year, there has been a 30 percent increase in global panel demand in Q3 2020.
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