Samsung Display plans $11 billion investment in South Korean

Samsung Display plans to spend $ 13 trillion to upgrade a liquid crystal display factory in order to produce more advanced screens, Yonhap news agency reported on Tuesday.

Samsung Display, a unit of Samsung Electronics Co Ltd and a supplier of Apple Inc., will announce the investment next month, Yonhap said, citing unknown industry sources. He did not mention a deadline for the investment.

South Korean panel makers have struggled to cope amid the sluggish demand for LCD TVs and smartphones, as well as increased competition from Chinese rivals and a shift from key customers to light-emitting diode panels.

LG Display last week announced a voluntary surplus program for local product line employees, in increasing financial losses.

Samsung Electronics said it spent $ 500 billion on its display business during the April-June quarter./investing

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