Apple Inc provider Samsung Display said it will invest 13.1 trillion won ($11 billion) on offices and research to update a generation line, as it fights extreme oversupply because of poor worldwide interest for smartphones and TVs.
The unit of Samsung Electronics Co Ltd said that by 2025 it will invest 10 trillion won on offices and the rest on innovative work to create further developed display screens.
The venture declaration comes when South Korea's board producers have been battling to adapt to more slow LCD interest for TV and smartphones just as a rising challenge from Chinese opponents and a move by significant customers to OLED boards.
The $11 billion spendings for the following five years will be centered around changing over one of its South Korean LCD lines into an office to mass-fabricate further developed "quantum dot" screens, Samsung Display said in an announcement.
Samsung has said it suspended the LCD creation line a month ago.
The organization runs six display MF lines incorporating one LCD line in China.
South Korean President Moon Jae-in and Samsung Elec vice chairman Jay Y. Lee, beneficiary to the Samsung Group conglomerate, went to a marking ceremony for the proposed venture at Samsung Display's MF site in the South Korean city of Asan, the Presidential Blue House reported.
Samsung plans to start the activity of its recently overhauled "quantum dot" line from 2021 with a month-by-month limit of 30,000 sheets, as per the organization.