Asan: Yi Chung, chief executive officer (CEO) of Samsung Display Co., said he expects an "explosive growth" in demand for flexible products in 2030, noting the company will beef up its competitiveness by focusing on such premium products.

According to Yonhap News Agency, the head of the wholly owned subsidiary of Samsung Electronics Co. made the comment during a meeting with employees in Asan, around 85 kilometers south of Seoul, unveiling the company's vision for its premium lineup, including flexible products for foldable smartphones. His remarks came as Samsung Electronics has been expanding sales of foldable smartphones, including the Galaxy Z Fold 7 and Flip 7, while planning to launch a new trifold model next month.

"As we expect an explosive growth in the foldable market in 2030, we plan to lead sales based on our distinctive technology leadership," Yi was quoted as saying by Samsung Display. "With rivals aggressively catching up in terms of technology, we need to review whether our products' quality and manufacturing competitiveness meet clients' expectations," he added.

Yi said Samsung Display will work to bolster the productivity of its production lines for the new 8.6-generation IT organic light-emitting diode (OLED) display products for tablets and monitors, which will begin commercial production next year. "I call for (employees) to work while focusing on three values, namely technology, clients and execution," he added.