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피터빈트

China’s TCL chairman visits Samsung headquarters

By Korea Herald

Published : July 6, 2016 - 15:34

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[THE INVESTOR] Chinese tech giant TCL’s chairman Li Dongsheng visited Samsung Group’s headquarters in Seocho-dong, southern Seoul, on July 6, possibly to seek partnership on liquid-crystal display business.

Li was also accompanied with top executives of China Start Optoelectronics Technology, TCL’s display-making unit and China’s second-largest display maker. 

TCL chairman Li Dongsheng TCL chairman Li Dongsheng

Samsung Electronics’ top executives, including CEO and display business chief Kwon Oh-hyun and the company’s TV business chief Kim Hyun-seok, are said to have attended the meeting.

TCL is the largest TV maker in China and the third globally. Its own production plant for the 11th-generation LCD panels is currently under construction in Shenzhen with plans to start production from 2018.

About the high-profile meeting between the two companies, industry watchers predict they could have discussed ways for Samsung to sell off its LCD business to the Chinese partner.

Samsung has continued reducing its LCD production lines due to slowing profits, largely due to cheaper panels from Chinese rivals. While selling off the less profitable business, Samsung is likely to secure LCDs from TCL.

Samsung officials confirmed the meeting but declined to further elaborate on the issues they discussed.

By Lee Ji-yoon (jylee@hearldcorp.com)

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