TCL’s Panel Manufacturer CSOT Commences Production of High Generation Panel Modules
Jun. 14, 2018
SHENZHEN, China--(BUSINESS WIRE)--Jun 14, 2018--TCL-owned Shenzhen China Star Optoelectronics Technology Co., Ltd (CSOT), a world-leading panel supplier, today announced it has commenced production of its high generation panel modules, underpinning TCL’s vertical integration strategy.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180614005626/en/
Senior executives from TCL Corporation and Huizhou government officials attended the ceremony for celebrating the commencement of production of high generation panel modules in Huizhou on June 12, 2018 (Photo: Business Wire)
The High Generation Panel Module Project, which started in May 2017 and covers an area of 519,000 square meters, represents an investment of US$1.5 billion (RMB 9.6 billion) and is part of the TCL Group’s Module-Set Integrated Smart Manufacturing Industrial Park Project in Huizhou, China. Phase one of the construction is expected to be completed in 2019 with a design capability of 40 million modules per year, and phase two is expected to be completed in 2021, with a design capacity of 60 million modules per year.
“Our significant investment in CSOT is part of TCL’s business strategy to achieve success in the global TV industry, by fully-integrating the TV manufacturing process,” said Tomson Li, Chairman and CEO of TCL Corporation. “All our efforts will benefit our customers who will enjoy higher-quality TV products.”
In May 2018, CSOT announced its latest joint investment of US$6.55 billion (RMB 42.68 billion) in the second, 11 th generation (“G11”) panel production line in Shenzhen, China, known as t7, revealing TCL’s vision for 8K products and the high value-added market.
The joint investment in t7 was agreed between TCL Corporation, CSOT and the Shenzhen Major Industrial Development Fund. It will have the design capacity to manufacture 90,000 sheets of substrate glass per month, and will be primarily dedicated to 65-inch, 70-inch and 75-inch 8K high-definition displays, as TCL sees the demand for large high-definition TV products continue to grow.
There was also further progress in CSOT’s first G11 panel production line, known as t6, with the company moving the main production equipment into place to prepare for the start of production.
With an investment of US$7.25 billion (RMB 46.5 billion), construction of t6 started in November 2016, and CSOT announced the roof sealing of the main building in November 2017. It is expected to commence mass production in March 2019, with a design capacity of 90,000 sheets of substrate glass per month, which will greatly improve TCL’s production of big screens, such as the 65-inch and 75-inch LCD screens.
About TCL Multimedia
Headquartered in China, TCL Multimedia Technology Holdings Limited (HKSE: 01070) is one of the leading players in the global TV industry, engaged in the research and development, manufacturing and distribution of consumer electronic products. With a new product-and-user-oriented business model that focuses primarily on a “Double +” strategy aiming to achieve “Smart + Internet” and “Products + Services”, TCL Multimedia is striving to become a “global entertainment technology enterprise” that provides integrated entertainment solutions to customers.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180614005626/en/
CONTACT: Media Contacts:
Tel: +86 755 3331 1958
H+K Strategies for TCL Multimedia
Tel: +852 2894 6292
KEYWORD: ASIA PACIFIC CHINA
INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS HARDWARE INTERNET AUDIO/VIDEO
SOURCE: TCL Multimedia
Copyright Business Wire 2018.
PUB: 06/14/2018 09:26 AM/DISC: 06/14/2018 09:26 AM