OLED Gets the Axe from Samsung and American International Group Posts 27% Fall in Quarterly Income
Universal Display Corp. (NASDAQ: OLED) - will not be expanded by Samsung for TV production. According to Nikkei Asian Review, Samsung has left its plans for a new facility to produce next-generation OLED panel for TVs due to production inefficiency and price competition. The publication reported that Samsung's last lineup of OLED TVs didn't fare well because they were too expensive. A 55-inch model was selling for about $14,700. Samsung will focus on LCD displays for its TVs for now, but will continue to research OLED technology. Universal Display Corporation is engaged in the research,