Now it's Samsung's turn to try consolidate its position in the LCD market with the opening of a factory in China. The Korean electronics giant has begun work on a 100,000 sq meter TFT-LCD factor in Suzhou in Jiangsu province, China, which will produce around 160,000 modules a month, when it opens in the second half of next year.
Expanding its presence in China, South Korea's Samsung Electronics on Friday broke ground on a new flat-panel display module assembly plant in the Chinese city of Suzhou, and beefed up its existing chip-assembly operations in the same location. Samsung's Device Solution Network business unit is also pursuing plans to establish an R&D center in China next year. The company also outlined plans to establish a system that will integrate production with R&D and sales in that nation. Samsung intends to use this expansion as a springboard for achieving $4.2 billion in sales within China by 2006. Its sales target for China this year is $830 million, up 87% from 2001.
"China is the most attractive market for the IT industry in terms of growth potential for the 21st century," said Yoon-Woo Lee, president and CEO of Samsung's Electronics Device Solution Network unit, in a statement. "We intend to continue bolstering the competitiveness of our semiconductor and TFT-LCD businesses and expand our China-based production, sales and R&D operations," he said.
Source: CMPnet Asia