SEOUL -- Samsung Electronics has abandoned plans for a new facility to manufacture next-generation display panels for televisions, deterred by the inefficiency of production amid intense price competition in the TV market.
An OLED TV forms a picture on a thin, bendable layer of organic light-emitting diodes. The South Korean company released sets last year at home and in the U.S. But the products did not fare well, in large part because of hefty price tags. A 55-inch model initially went for 15 million won ($14,700).
