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September 25, 2020

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BOE expands market lead in US$1.78b deal

Display giant BOE will expand its flat panel display output by buying two more production lines for advanced flat panel display units on the Chinese mainland for a record of more than 12.1 billion yuan (US$1.78 billion) it said yesterday.

BOE will acquire major stakes in lines in Nanjing and Chengdu from Nanjing CEC Panda, the Shenzhen-listed firm said in a statement to the Shenzhen Stock Exchange yesterday.

BOE should be able to improve production capacity and expand into the high-end market, especially at the level of 50-inch, 58-inch and 70-inch models, GF Securities said in a report.

Demand for LCD panels used in TVs, computers and other devices is predicted continue to grow over the next five years.

And Chinese firms will take about 60 percent of the global market.

LCDs will be the main display technology for at least the next five years and will see high growth, said Chen Yanshun, chairman of the China Optics and Optoelectronics Manufactures Association.

Currently, China’s top flat panel display makers are BOE and TCL.


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