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Samsung Elec says scaling down LED lighting business

Monday, October 27, 2014 - 14:20
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South Korean tech giant Samsung Electronics said on Monday it was discontinuing its light emitting diodes lamp business in all markets except South Korea.

[SEOUL] South Korean tech giant Samsung Electronics said on Monday it was discontinuing its light emitting diodes lamp business in all markets except South Korea.

Samsung Group had identified the LED market as a new growth business back in 2010 after Lee Kun-hee, patriarch of the owner Lee family, returned as the chairman of Samsung Electronics.

Samsung Electronics is the flagship affiliate of South Korea's biggest conglomerate.

REUTERS