Samsung Electronics has hit pause on a plan to end production of LCD screens this year as the coronavirus pandemic drove consumer demand for new televisions to record highs.
The world’s biggest producer of electronic display panels used in devices including smartphones, computers and TVs had planned to stop LCD manufacturing this year. It has already sold its LCD factories in China.
That decision, signalled in October 2019, came amid rising competition from low-cost Chinese rivals. It also reflected urgent pressure on Samsung Display to develop more advanced organic light-emitting diode panel technology, a fast-growing section of the market.
Samsung backtracked on Tuesday, saying that LCD production in South Korea would continue through at least the first quarter of 2021. The company did not provide further details of its plans.
However, the about-face does not change Samsung’s longer-term display strategy. The company is investing $11bn in next-generation…