[BUSINESS] Samsung Open LCD Panel Manufacturing Plant in China
D-Bo, Oct. 28, 2013, 10:23 a.m.
Samsung Display opened a new manufacturing plant for LCD panels in Suzhou, Jiansu Province China. The new plant will be capable of producing eight generation LCD panels measuring 2.2 meters by 2.5 meters (approximately 86.5”x98.5”). This is a first for the Korean conglomerate, as previous factories have only been for assembling products, and not manufacturing them.
At Friday's completion ceremony, Kim Ki-nam, president and CEO of Samsung Display, described the move as inevitable given that China now ranks as the world’s only growing TV market. He added that Samsung Display will target China’s premium display market with 48- to 55-inch ultra high definition (UHD) and full high definition (HD) LCDs.
Kim made the remarks amid concerns of potential oversupply as both Chinese and Korean companies are expanding their production facilities to make more of the panels. Construction of the new plant began in May last year on a 573,000-sq.m. plot of land within Suzhou Industrial Park.