SEOUL -- Saying its market for high density interconnection (HDI) boards has dried up, LG Innotek will cease production of PCBs by next year, the company said.

The company cited lower demand for mobile devices and increased competition.

In a statement on Nov. 28, the PCB fabricator that it has decided to focus instead on semiconductor substrates.

The company is expected to end PCB production this year and close out inventories by June. Staff and related equipment will be transferred to the semiconductor business.

HDI sales make up 3% of LG Innotek's overall sales.