AUO to invest US$3b in LCD facility
By Zhu Shenshen |
March 16, 2010, Tuesday
|
Print Edition
Print Edition
TAIWAN-BASED AU Optronics Corp plans to invest US$3 billion to build a LCD panel manufacturing facility in Kunshan, Jiangsu Province, to tap the booming LCD TV market on the Chinese mainland.
AUO has submitted an application to the Taiwan Investment Commission of the island's economic affairs bureau to establish a 7.5-generation LCD front-end plant in Kunshan. According to regulation, the investment project is subject to approval by the Core Technology Committee, according to an e-mail statement.
"AUO expects the investment to bring more convenient and in-time services to its customers in China and that it could also strengthen AUO's competitiveness in China's TV market," the world's No. 3 LCD panel maker said in the statement yesterday.
Of the US$3 billion investment, AUO plans to inject US$1.2 billion as capital, in addition to local financing support.
On the Chinese mainland, nine LCD panel lines are in operation and four additional new lines are planned, including an 8th generation line in Beijing built by BOE - thanks to the demand in the booming LCD TV market, analysts said.
In 2009, global sales of LCD TVs grew 37 percent annually while the total TV market edged up only 2 percent, according to DisplaySearch, a United States-based consulting firm.
TCL, China's No. 3 TV maker, said its LCD TV sales took up 58.8 percent of the total TV sales in 2009, more than double compared with the number sold in 2008.
AUO generated NT$359.3 billion (US$11.2 billion) in revenue in 2009.
AUO has submitted an application to the Taiwan Investment Commission of the island's economic affairs bureau to establish a 7.5-generation LCD front-end plant in Kunshan. According to regulation, the investment project is subject to approval by the Core Technology Committee, according to an e-mail statement.
"AUO expects the investment to bring more convenient and in-time services to its customers in China and that it could also strengthen AUO's competitiveness in China's TV market," the world's No. 3 LCD panel maker said in the statement yesterday.
Of the US$3 billion investment, AUO plans to inject US$1.2 billion as capital, in addition to local financing support.
On the Chinese mainland, nine LCD panel lines are in operation and four additional new lines are planned, including an 8th generation line in Beijing built by BOE - thanks to the demand in the booming LCD TV market, analysts said.
In 2009, global sales of LCD TVs grew 37 percent annually while the total TV market edged up only 2 percent, according to DisplaySearch, a United States-based consulting firm.
TCL, China's No. 3 TV maker, said its LCD TV sales took up 58.8 percent of the total TV sales in 2009, more than double compared with the number sold in 2008.
AUO generated NT$359.3 billion (US$11.2 billion) in revenue in 2009.
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