MITSUBISHI ABANDON PRODUCTION OF LCD MODULES
The Japanese group has announced that it will end production of TFT-LCD modules manufactured by its wholly-owned subsidiary Melco Display Technology (MDTI), in June 2022. The business employs 430 people. The planned shutdown of production is due to changes in the business environment (in short, Chinese competition). The company will shift its and MDTI's operational resources from the LCD business to its growth drivers such as power components.
The Company's LCD business, currently focused on small and medium-sized TFT-LCD modules for industrial and automotive use, has expanded its business by developing and launching high-value products with advanced technologies in segments specific markets based on market needs. However, the Japanese group has decided to end the production of TFT-LCD modules taking note of the fact that Mitsubishi is no longer able to maintain the competitiveness of the products in the current situation of global competition and significant drop in prices. . Remember that Korean manufacturers also reached the same conclusions.
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