Samsung sells LCD factory in China to TCL

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Samsung’s screen division announced the sale of an LCD display factory in China to TCL. The commercialized production line is in Suzhou and the negotiation moved a value around US $ 1.08 billion. The information was reported by the Korea Herald.

Who will take advantage of the factory is China Star Optoelectronics Technology (CSOT), which is TCL’s screen production unit, now accounts for 60% of the site. The owner of the brand will own 10% of the total, while the remaining share will belong to the region’s government. At the same time, Samsung itself made an investment of $ 739 million in shares linked to TCL.

Previously, the factory was responsible for 27% of the South Korean company’s LCD screens, especially for 32 “, 55” and 65 “monitors and televisions. However, Samsung Display is moving into a new phase: it set a goal shut down the manufacture of LCD panels by the end of 2020, moving definitively to OLED and technologies such as quantum dots.

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