LCD | November 21, 2008
Samsung puts capacity expansion in Hungary on hold
Korean based electronics manufacturer Samsung Electronics has delayed a plan to increase production capacity at its display panel facility in Hungary.
This decision is closely related to the current downturn on global financial markets. A Samsung Electronics spokesman was cited in The Korea Times in saying "We are closely watching the situation in Hungary as slow demand for electronic products will give an imminent signal for us in deciding our next moves.'' Most of Samsung's output in Hungary goes to Western Europe. The company also operates to LCD facilities in Slovakia. Both countries are seen as very vulnerable and are therefore being watched carefully. However, Samsung so far does not expect to stop production and reduce its workforce in these locations.