TCL ACQUIRES SAMSUNG’S LCD PLANT
Samsung Display which makes display panel for various devices has sold its LCD plant in Suzhou, China. The main buyer is the local company CSOT which is owned by TCL, the conglomerate that also builds the alcatel smartphones.
The move is in line with the Samsung’s plan to stop the production of LCD panels by the end of this year. The South Korean company is now shifting its focus towards the production of LED panels and the next-generation QD panels.
The total deal was worth $1.8 billion in which 60% of the plant will be owned by CSOT, 10% by its parent company TCL, while the rest 30% will be handed out to the Suzhou government. The plant produced 27% of Samsung Display’s total amount of LCD panels, with most of them being for monitors and TVs.
Following this deal, Samsung Display has also acquired a 12.33 percent stake in TCL Huaxing for $739 million.