According to the latest report, Samsung Electronics Co. plans to transfer about 300 employees from the liquid crystal display (LCD) division of its display business to the company’s semiconductor division.
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The move comes after Samsung Display, a unit of Samsung Electronics Co Ltd, stopped making LCD panels for TVs this month due to falling prices for the products and competition from Chinese panel makers leading to a supply glut, the report said.
Samsung Display has scaled down its TV LCD business since mid-2010. In 2020, the panel maker said it would discontinue the business and gradually move to higher-end products that are more profitable, including OLED panels.
In August and December of that year, Samsung Display transferred about 200 to 400 workers to Samsung Electronics’ Device Solutions (DS) division in charge of the chip business.
Last month, Samsung announced a huge investment plan for the next five years to recruit and cultivate talents, strengthen research and development in the semiconductor business, and other matters.
