Samsung Display to invest $11 billion by 2025 amid industry oversupply

SEOUL: Apple Inc supplier Samsung Display said on Thursday it will invest 13.1 trillion won ($11 billion) on facilities and research to upgrade a production line, as it battles severe oversupply due to weak global demand for smartphones and TVs.

The unit of Samsung Electronics Co Ltd said that by 2025 it will spend 10 trillion won on facilities and the rest on research and development to produce more advanced display screens.

The investment announcement comes at a time when South Korea’s panel makers have been struggling to cope with slower liquid crystal display (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.