Seoul (ANTARA News/Asia Pulse) - South Korea's Samsung Electronics Co. (KSE:005930), the world's largest LCD manufacturer, on Friday announced plans to construct a panel factory in China through a joint venture.

This would be the company's first panel plant for LCD televisions outside of South Korea. Mass production is expected to start around 2011 pending approval from the governments of both countries.

Samsung intends to put up about 35 per cent of the total outlays, which is estimated at 2.6 trillion won (US$2.2 billion), or roughly 200 billion yen. It will start talks with potential partners, such as local TV manufacturers.

Demand for LCD TVs has surged in China thanks in part to a government program designed to boost purchases of appliances in farming villages.


Source:
Business in Asia Today - Oct 19, 2009
published by Asia Pulse

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