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    Samsung to acquire LG’s LCD plant in China to keep rival BOE in check

    Business
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    Last updated: November 29th, 2023 at 08:05 UTC+01:00

    Samsung Display, the world's biggest mobile display manufacturer, recently sued Chinese rival BOE and its subsidiaries for stealing trade secrets. Now, Samsung Electronics is trying to keep BOE in check by trying to control the supply chain as much as possible. In a new move, the South Korean firm is trying to acquire LG Display's LCD panel manufacturing plant in China.

    Samsung wants to keep Chinese rival BOE out of its supply chain

    According to a new report from South Korea, Samsung is indirectly seeking to acquire LG Display's LCD plant in Guangzhou, China, through Chinese firm CSOT. Samsung's rival BOE is also said to be competing to buy the same plant. Apparently, Samsung Electronics wants a steady and high-quality LCD supply for its QLED TVs, and that is partly the reason why it wants control over LG's LCD plant. The South Korean firm reportedly has a 10.38% stake in CSOT.

    This LCD plant from LG Display was being sold to Chinese firm Skyworth, but the deal was canceled after the two firms couldn't come to a conclusion over the past six months. Skyworth reportedly failed to respond to LG Display's request for a lump sum payment. The LCD plant is said to be valued at KRW 1 trillion ($776 million). After the Skyworth deal failed, LG Display has been negotiating with BOE and CSOT as possible buyers for its display plant.

    LG Display's LCD plant in China makes panels for LG, Samsung, and Sony

    This plant offers LCD panels to LG, Samsung, and Sony for their TVs. LG Display seems to have offered 2-3 years of support after the acquisition. This plant has two lines—GP1 and GP2—with capacities of 100,000 and 200,000 sheets, respectively. It also brings access to LG's IPS LCD technology that offers wider viewing angles.

    While Samsung has switched to QD-OLED, OLED, and Micro LED technologies for most of its premium TVs, its entry-level and mid-range TVs still use LCD-based QLED technology. Hence, Samsung Electronics has stepped in to help CSOT acquire LG Display's LCD plant in China so that its supply chain is stable and offers high-quality panels at good prices.

    Business BOEChinaCSOTLGSamsung Display

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