Samsung bolsters LCD monitor production as COVID-19 boosts demand
Samsung Display confirmed earlier this year that it will end the production of all LCD panels by the end of 2020, but until that happens, the company is reportedly reorganizing its resources to meet a huge increase in LCD monitor demand caused by the COVID-19 pandemic. With many people stuck at home, demand for gaming monitors surged over the past weeks, and Samsung Display is looking to capitalize on this shift.
According to The Elec citing market research firm Omdia, Samsung Display is going to achieve a higher LCD monitor panel output by reducing LCD TV panel production this year. Analyst data indicates that Samsung could manage to increase its LCD monitor panel shipments from 16.5 million units last year to 22.9 million by the end of 2020.
In the meantime, the global TV market segment saw a decline in demand in the wake of COVID-19, as many sports events – including the Tokyo 2020 Olympics – have been postponed. Samsung Display’s LCD TV panel shipments should top 13.3 million units according to the research firm, down from 32.3 million in 2019. Either way, the company intends to stop all LCD panel production before the end of the year, even though its LCD facility in the Jiangsu Province, China, could remain operational throughout Q1 2021 due to terms of contracts with the local government.Join the Discussion