Samsung is planning to move 300 workers from its closed LCD TV panel manufacturing division to its semiconductor manufacturing unit. Industry sources familiar with the matter told South Korean publication The Korean Herald.
The move is due to the South Korean brand’s decision to stop the production of LCD panels for televisions earlier this month because of the falling prices and steep competition from Chinese LCD panel manufacturers. Samsung has also scaled down its TV LCD business since mid-2010. The company started producing LCD panels for TVs in 1992. In 2020, Samsung also said that it will gradually end its display unit and shift towards more profitable high-end products like
developing OLED panels. In the same year, the company moved 200-400 workers to its Electronics device solutions division.
The relocation also highlights the growing demand for engineers and highly skilled workers in the chip business. The semiconductor industry is also seeing a scarcity of workers as chip demand is at an all-time high.
Samsung Display is expected to gradually increase the production of OLED panels going forward.
In other news, Samsung recently launched Crystal 4K Neo smart TV in India at Rs 35,990. Read more about it here.
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