Samsung Electronics, the world's largest flat-panel maker, said Monday it held a groundbreaking ceremony for a new plant in China in a bid to expand its presence in the liquid crystal display (LCD) market in the world's most populous nation.
According to an emailed statement sent by Samsung to Xinhua, it broke grounds Monday for a new 7.5-generation assembly line in Suzhou Industrial Park, which will be constructed by Samsung Suzhou LCD (SSL).
The SSL is a joint venture set up last month by Samsung Electronics, Suzhou Industrial Park and TCL Corp., one of China's leading TV makers. Samsung holds a 60 percent stake in SSL capitalized at 3 billion U.S. dollars, with the Suzhou Industrial Park and TCL Corp. having interests of 30 percent and 10 percent respectively.
Samsung said it expects the new plant to begin mass production in the first half of 2013, adding the plant will be capable of producing 100,000 units of glass substrate per month.
The tech giant aims to carry out an integrated LCD manufacturing process within China by building the plant along with the existing LCD module production line which has been operating in Suzhou since late 2003.
