TCL, world’s third largest television maker, to build US$6.71 billion screen factory in Shenzhen

TCL Corp, the world’s third largest television maker, said on Tuesday it plans to build a new production line for 8K and organic light-emitting diode (OLED) screens, at a cost of 42.7 billion yuan (US$6.71 billion).

The new production line, to be built in southern China’s Shenzhen, where the company is also listed on the city's stock exchange, will have the capacity to manufacture 90,000 screens of the latest generation, ultra high-definition variety each month. It will produce and sell 65-inch, 70-inch and 75-inch 8K resolution screens, as well as 65-inch and 75-inch OLED television screens, the company said in a Chinese-language announcement filed to the Shenzhen Stock Exchange. The company plans to achieve mass production in March 2021. 

With this move, the company aims to “follow the trend of semiconductor display technology, and seize the opportunity of a rapidly growing market for display screens of large sizes and ultra high definition”, according to the Huizhou, Guangdong-headquartered television maker.

The company’s Shenzhen unit will partner with a government-backed development fund to boost registered capital in a TCL semiconductor subsidiary, which will set up the new production line with 20.3 billion yuan, according to the announcement.