Samsung planning to close LCD panel manufacturing soon, says report

South Korean tech giant Samsung is reportedly planning to close down its last liquid-crystal displays (LCD) production lines.

The decision to close the LCD business, by Samsung Display, will be completed by June of 2022 as the company faces tough competition from its Chinese and Taiwanese counterparts, reports GizmoChina.

The company has decided to focus on manufacturing organic light-emitting diode (OLED) and quantum dot (QD) displays, as OLED panels have started to become the norm in the smartphone market.

That being said, the main reason for the shutting down of LCD panel production is the reduced profits in the venture, as per the report.