Samsung Electronics said Monday it is shutting down its light-emitting diode (LED) lamp business outside of South Korea mainly due to dim industry prospects. The South Korean tech giant had characterized LED lighting as a key growth business four years ago. But Sthe company has struggled to gain traction in the market, under the competition of established rivals such as Philips and Osram in advanced markets and from Chinese competitors in emerging markets. As a result, revenue contribution of LED lighting to the company had been small.

Samsung plans to remain active in the LED industry through its LED component business, focusing on areas such as backlighting for displays of consumer products like televisions.