Samsung Display and LG Display to cut down on production this year

A recent report from Korea Times claims that LG Display and Samsung Display will both cut display production throughout 2016. These two South Korean giants absolutely dominate the display market so the fact they're taking measures to prevent losses shows that the market is changing. Another reason for the cuts is the growing competition from the Chinese and Taiwanese suppliers. On a related note, Samsung plans to produce more OLED panels this year for mobile phones in China, and it's a known fact that the tech company will be supplying OLED displays for the upcoming iPhones.

Chung Won-Seok from Hi Investment claims that Samsung and LG can't keep up with Chinese manufacturers when it comes to prices, and this is especially true considering that the demand for OLED displays has slowly decreased while demand for AMOLED panels is growing. This doesn't mean that the Chinese and Taiwanese aren't in trouble with profits this year, as the market is facing some pretty hard times.

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