Samsung Offloads LCD Plant To TCL For $1.8 Billion
Samsung has continued to nail the coffin on its LCD business, now selling its Suzhou Chinese LCD plant to a subsidiary of display giant, TCL, for US$1.8 billion.
The news comes after Samsung announced it was getting out of the LCD business back in March, with the Korean tech maker set to further focus on quantum dot and OLED technology for its TV and phone portfolio.
Chinese-owned TCL is considered one of the largest TV panel manufacturers, with its display expertise benefitting smartphone subsidiary brand Alcatel in the budget and mid-range market.
According to The Korea Herald, the deal will make China the producer os half the world’s large LCD panels.
Sixty percent of the plant will reportedly be owned by TCL subsidiary, CSOT, the remaining ten percent by TCL, and the last thirty percent by the Suzhou city government.
The plant is said to have been a generator of around 27% of Samsung Display’s LCD production.
Samsung Display has reportedly invested nearly US$740 million to notch a 12.33% stake in TCL-related shares.