Samsung plans to cut LCD investment next year: executive

SEOUL, Oct 14. (Yonhap) -- Samsung Electronics Co., the world's largest producer of liquid-crystal displays (LCDs), plans to cut down on investment in its LCD production next year amid a global glut and an expected slowdown in consumer demand, a company executive said Tuesday.

"Nothing has been decided yet, but (the investment) will be reduced compared to
this year," Lee Sang-wan, head of Samsung's LCD division, told reporters at an
industry trade event in northern Seoul.
Overproduction, spurred by record earnings last year, has forced global display
makers to scale back on investment as an ongoing financial rout threatens
consumer demand for electronic goods.
LG Display Co., Samsung's South Korean rival, cut its forecast for third-quarter
profitability earlier this month, citing the worsening global economic
environment. The company plans to announce its quarterly results later in the
day.
Lee forecast that the global panel industry will face "short term" difficulties
at least until the first quarter of 2009.
"We've also already began controlling LCD output," said Lee, noting that the
company is pacing its output within a 5-percent range depending on seasonal
market conditions.
odissy@yna.co.kr
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