Samsung SDI Hungary, located in Göd, northeast of Budapest, is closing down. It was was the second-largest local unit in the country that manufactured color picture tubes (CPT), plasma display panels (PDP) and mobile phone displays.
As the Hungarian web site hvg.hu reported, the decision on liquidating the company was published on April 3.
Portfolio. hu notes that one of the basic produce of the plant used to be cathode-ray tubes (CRT) for previous generation TVs, but since as then technology advanced so much that CRTs are practically no longer needed.
Demand for the factory’s other key product, PDP, has been declining for the high power demand of this technology and consumers turning to LCD and then LED television sets.
These technological developments dented the company’s revenues. Whereas Samsung SDI Hungary posted revenues of over HUF 101 bn in 2010, it had "only" HUF 76.6 bn revenues in 2012, portfolio.hu adds.
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