SAMSUNG sells its LCD Plant in china

Samsung Display has sold its LCD plant in Suzhou, China, insiders reveal. the most buyer is that the local company CSOT which is owned by TCL, the conglomerate that also builds the alcatel smartphones.

The total deal is worth $1.8 billion - 60% of the plant are going to be owned by CSOT, 10% by its parent company TCL, while the remainder 30% are going to 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.

This step may be a confirmation to earlier reports that Samsung is trying to discontinue its LCD business and can refocus to quantum dot screens.

The Korea Herald reported that the plant has three 8.5-generation production lines and one 11-generation line, the latter getting to begin manufacturing from early next year. curiously enough , the report also revealed Samsung Display reinvested $723 million into TCL-related companies to accumulate 12.33% of their shares.