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Biz News Korea(Eng)
Samsung Display mulls $2.5 bn investment to add lines in Vietnam
- Collected
- 2017.01.12
- Distributed
- 2017.01.13
- Source
- Go Direct
According to multiple industry sources Tuesday, the display-making unit of Samsung Electronics Co. has been in talks with Vietnam’s government over expanding its current factory in Vietnam by injecting additional $2.5 billion. The firm already invested around $4 billion in the facility last year. The two parties are said to be discussing about possible tax breaks for the Korean firm’s additional investment in the Southeast Asian country. Samsung Display and the local authority would come to terms over the details in the first quarter at the earliest, according to sources.
Industry watchers observe that Samsung Display is expected to invest up to 10 trillion won ($8.4 billion) in total until this year to ramp up organic light-emitting diode (OLED) panel production. Its $2.5 billion investment in Vietnam factory is not included in the budget.
Samsung Display also plans to transform its seventh-generation liquid crystal display (LCD) production line L7-1 in Tangjeong, South Chungcheong Province, into OLED production line. To meet the growing demand for OLED panels, the firm invested over 5 trillion won to boost its production capacity of OLEDs for smartphones in the fourth quarter last year.
In particular, the firm will sharply up investment in high-value added OLED displays such as the so-called “Quad Edge Display,” which was featured on Samsung Electronics’ Galaxy S7 series. The curved OLED panel is expected to be also fitted with Apple Inc.’s upcoming iPhone series in the latter half this year.
By Lee Dong-in
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]