Samsung expands investment in OLED and sells LCD screen factory to TCL


SamsungSamsung continues to expand its investment in OLED display technology. The South Korean giant has started converting some LCD factories to the new display format and this has caused a major shift in its staff.

In addition, the company’s strategic planning also provides for divestment in plants in China. This was concluded with the sale of a display factory in the Chinese city of Suzhou.

In a statement released this week, Samsung confirms the sale of the LCD screen factory to TCL Huaxing – a TCL subsidiary. Completion of the deal involved the payment of US $ 1.08 billion for the unit.

The agreement between Samsung and TCL also provides that South Korean will maintain a minority stake in the business.

The agreement between the companies goes far beyond the display factory. It also involves the sale of a 12.33% stake in TCL Huaxing to Samsung Display. The transaction cost was US $ 739 million.

Apparently, despite the change of owner, the Chinese factory should continue to produce LCD screens for Samsung. The unit is currently responsible for providing 32, 55, and 65-inch displays for the South Korean giant’s televisions.

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Despite selling its factory, Samsung continues to maintain a reliable supply of LCD screens. Thus, the company does not need to resort to competition.

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