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Samsung Electronics to build LCD plant in China

Post Time:Oct 19,2009Classify:Company NewsView:392

Samsung Electronics Co., the world's No. 1 maker of liquid crystal display (LCD) panels, said Friday it will invest 2.6 trillion won (US$2.23 billion) to build an LCD plant in eastern China.

Samsung plans to construct the 7.5th-generation LCD factory in Suzhou in China's Jiangsu province, the company said in a regulatory filing. The plant is predicted to start mas production from 2011.

Once completed, the 7.5th-generation plant will likely turn out panels for 42-inch TVs, as the bulk of LCD TVs sold in China are 30-40 inches, market watchers said.

Samsung plans to apply for the South Korean government's approval for the planned investment later in the month. The decision is also subject to the Chinese government's approval.

Samsung is set to join rival LG Display Co., the world's No. 2 LCD panel maker, in the quickly growing market. LG recently decided to build an 8th-generation LCD panel plant in Guangzhou, China.

Meanwhile, Samsung is expected to finalize a plan to invest around 3 trillion won to expand its 8th-generation production line in South Korea, industry sources said.

Source: www.tradingmarkets.comAuthor: shangyi

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