KLA Corp. to exit flat panel display business

In a regulatory 8-K filing, the company stated: KLA Corporation has made the strategic decision to exit the Company’s flat panel display, or FPD, business that is part of its PCB, Display and Component Inspection reporting segment. The Company expects to complete the exit through end of manufacturing of FPD products by December 31, 2024. The Company will continue to provide services to the installed base for the discontinued product lines. The decision is based on multiple factors, including the cancellation of a significant new technology project by a major customer, and represents the culmination of our decision to investigate alternatives for our FPD business that was disclosed in our letter to shareholders and quarterly report on Form 10-Q for the quarter ended December 31, 2023. The FPD business accounted for 1.4% of the Company’s total revenue in calendar year 2023.”