Samsung sold its LCD facility to TCL. Continuing to shift its investments from China to another country, Samsung announced that it sold its LCD facility in Suzhou to TCL. Samsung sold its LCD facility to CSOT, which is owned by TCL and also manufactures Alcatel smartphones.
China, which was once the center of attention, started to lose all interest, with many investors withdrawing from the country due to the radical decisions it took due to the trade wars with the USA and the Covid-19 pandemic. Samsung became one of these investors.
Samsung has also invested in companies associated with TCL with the sale of LCD
Continuing to move many of its investments and factories to other countries, Samsung recently acquired the LCD facility of Samsung Display, the sub-branch of the company, CSOT, a subsidiary of TCL.
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The LCD factory sales agreement between Samsung TCL is announced as worth $ 1.8 billion, 60% of the facility will be owned by CSOT, 10% by its parent company TCL, and the remaining 30% will be given to the Suzhou government. The factory produced 27% of Samsung Display’s total amount of LCD panels, mostly for monitors and TVs.
This step confirms previous reports that Samsung is trying to quit the LCD business and will refocus on displays with Quantum Dot technology.
Three 8.5 at the factory. generation production line and one 11th generation production line. The first of these is planning to start production early next year.
An interesting piece of information in the report is that Samsung Display has invested $723 million to buy 12.33% of its shares in TCL-related companies.