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samsung scales down led lighting as outlook dims

by:Demo     2020-08-28
SEOUL (Reuters)-
Samsung Electronics Co. , Ltd. 005930. KS)
Monday said it would stop its LEDs (LED)
The lighting business outside Korea has scaled back four years after it was identified as a key growth business.
Followed by a correction from Dutch rival Philips (PHG. AS)
Recently decided to kick off this century
Old lighting business
While the LED boom has upended the global incandescent lighting industry, the price war has cut profitability to levels deemed too unattractive in the long run.
Analysts say Samsung\'s exit reflects a growing competition among Chinese manufacturers despite strong demand for LED lighting.
LED lights are 10 times longer than fluorescent lamps and 100 times longer than traditional incandescent lamps.
\"Samsung seems to have decided to give up the business because the price competition is so fierce that there is not much room for growth in the future,\" Seoul said . \"
Li Min, investment analysthee.
Philips said in September it would spin off its lighting business to expand its market share.
Profits in the health care and consumer sectors.
Osram Licht AG, Germany, two months ago)OSRn. DE)
The company that also produced LED lights announced a cost
Layoffs including nearly 8,000 layoffs.
A spokesman for Samsung Electronics said the business\'s revenue contribution was small but did not comment on the specifics, including how much Samsung has invested.
\"We will remain active in the LED industry through our LED component business,\" Samsung said in an email statement, adding that, it will focus on areas such as backlight of consumer goods monitors such as televisions.
Samsung\'s decision also highlights the challenges facing the company and Samsung Group in nurturing new growth momentum.
Samsung Electronics is struggling with the decline in profits from the world\'s largest smartphone business-
Hee has been hospitalized since his heart attack.
In 2010, Samsung Group identified LED rechargeable batteries for hybrid vehicles, solar cells, medical devices and bio-pharmaceutical as the group\'s new growth drivers and projected them to generate 50 trillion won$47. 5 billion)
Annual income of its subsidiaries as of 2020.
But most of the group\'s business in these businesses has gained traction.
Samsung SDI Limited (006400. KS)
BMW, a senior German carmaker (BMWG. DE)
With the help of electric vehicle batteries, revenue from other businesses has not yet increased significantly.
Identifying and developing new growth drivers will be a key test for Jay Y.
When Li took control of the group from his father.
There is media speculation that Samsung may also withdraw from the solar business.
A Samsung SDI spokesman said the company continued its research and development in the field, but analysts said the recent decline in oil prices and the entry of Chinese companies hurt the market outlook.
\"These moves also show us Jay Y.
Li\'s management style has now been in charge for five months . \"
Gun, head of company regulator CEO Score.
\"He is moving away from businesses like solar and LED lighting and seems to be putting more resources into the software or platform --
He pointed out that Samsung Electronics acquired SmartThings, a home automation startup, in August, and Li\'s recent meeting with Facebook Inc (FB. O)
Mark Zuckerberg, CEO of Seoul
Samsung Electronics shares closed at 1.
Fell 5% on Monday, poor performance 0.
The overall market rose 3%.
KS11, but slow to respond to the LED lighting outlet. (
$1 = 1,052Won 6100)
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