Samsung Display plans to spend 13 trillion won or $11 billion to upgrade a South Korean liquid crystal display (LCD) plant in order to manufacture more advanced screens, Yonhap news agency reported.
Samsung Display, a unit of Samsung Electronics and an Apple supplier, will announce the investment next month. The report did not mention a timeframe for the investment.
Samsung Display operates two LCD production sites in South Korea and one in China.
South Korea’s panel makers have been struggling to cope amid slower LCD demand for TV and smartphones as well as rising competition from Chinese rivals and a shift by major clients to organic light emitting diode (OLED) panels, Reuters reported.
Samsung Display in August said it was looking at suspending one of its South Korean LCD production lines due to a supply glut.
LG Display last week announced a voluntary redundancy program for domestic production line employees amid mounting financial losses.
Samsung Electronics has said it spent 500 billion won on its display business during the April-June quarter.
