Samsung Electronics on Thursday announced a 2.2 billion-dollar investment plan to expand its LCD production, citing rising demand for high-end television sets. Samsung, the world largest maker of liquid crystal display (LCD) panels, said it would invest 2.06 trillion won (2.2 billion dollars) for expansion of its LCD production.
The investment, which was approved by its board, will be completed next year, the company said in a statement. LCD makers in South Korea, Japan and Taiwan have ramped up investment in new plants to produce bigger flat panels at cheaper prices.