According to local reports Samsung has sold its giant Chinese LCD panel factory to China Star Optoelectronics Technology (CSOT) for $1.08 billion. Samsung says it is withdrawing from production of LCD panels.
Instead Samsung Display will focus on higher-value organic light-emitting diode (OLED) panels which it will manufacture using its quantum dot technology which is designed to boost the screen’s colours.
The news emerged from a regulatory filing from TCL Technology, which owns CSOT, and which will see Samsung’s two factories in Suzhou, a city some 66 kms northwest of Shanghai pass into ownership of TCL/CSOT.
CSOT is already China’s second-largest display manufacturer.
The Samsung news echoes a similar decision made by LG Display which has an LCD panel factory in Guangzhou, China and which has already announced plans to switch from LCD output to OLED.