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Samsung Display announced on the 5th that it has received approval from the Ministry of Trade, Industry and Energy to sell its liquid crystal display (LCD) production line in Suzhou, China.
According to industry sources, the Ministry of Commerce, Industry and Energy held the Industrial Technology Protection Committee the day before, deliberating and approving the agenda of the’selling of LCD factory in Suzhou, China’ that Samsung Display applied for.
Earlier, the company signed a contract to sell the entire stake in the Suzhou LCD production line for about KRW 1.2 trillion to CSOT, a subsidiary of TCL in China, in August last year, but the ‘8.5 generation LCD technology’ applied to this line has been designated as the national core technology. It has gone through the government approval process for the sale.
Samsung Display is pushing for the transition to QD display, a next-generation display, by abolishing the existing LCD business, which is less profitable, and the QD conversion is expected to accelerate according to the government approval.
A company official said, “Even if the government is approved, the factory will not be withdrawn immediately, but the factory will continue to operate for the time being until the remaining administrative procedures are carried out.”
/yunhap news
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