(MENAFN) Samsung Electronics Co. will decrease production of its organic light-emitting diode (OLED) panels in response to Apple Inc's decision to cut production of iPhone X over weak demand.
Samsung Display, the panel-making unit of Samsung Electronics is now planning to make OLED panels for 20 million or fewer iPhones at the South Chungcheong plant in the January-March quarter.
The company's stocks dropped 2.3 percent in morning trade, while shares of Japanese OLED component makers, such as Hodogaya Chemical Co and Hirata Corp also declined.
Samsung Display still needs to set a production target for the April-June period, but a further cutback is possible.
MENAFN2002201800450000ID1096485868
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.