Sept 5 Sumitomo Chemical Co Ltd
withdrew its plan to build an LCD panel material plant in China
amid falling demand for LCD televisions, the Nikkei reported.
The company now plans to invest in developing OEL (organic
electroluminescence) panel materials - which consume less power
and offer sharper images - and in Petro Rabigh complex, a
large-scale petrochemical joint venture in Saudi Arabia, the
business daily said.
But with demand for small and midsize LCD panels expected to
continue growing amid the increasing popularity of smartphones
and other portable devices, Sumitomo has decided to invest more
than 1 billion yen ($12.8 million) this fall to boost the output
capacity at its South Korean plant about 6 percent, the Nikkei