Samsung may close solar cell business

Doubts in solar cell profitability are prompting Samsung Group to review the value of the solar business. “We are evaluating the business on a `zero-base’,’’ said a Samsung official, asking not to be identified, Tuesday.

Already, a cut of up to 40 percent in our investment plan has been decided, he said. Samsung had planned to invest 6 trillion won for solar batteries by 2020.  “The solar-cell market is reeling from continued oversupply amid aggressive expansion by Chinese cell manufacturers,’’ the official said.

“Samsung is not certain about advancing further with the current level of technology to make the business profitable,’’ said an industry expert.

Solar cells were on the list of its “next-growth revenue drivers’’ along with secondary batteries for electric vehicles, light-emitting diodes (LED), medical equipment and biopharmaceuticals.

For full article see Korea Times.