Skyworth Group, one of China's leading electronic consumer products manufacturers, and South Korea's LG Display announced a strategic cooperative plan to tap into the liquid crystal display (LCD) TV market, today's China Business News reported.
Skyworth is to buy stakes in LG Display's Guangzhou LCD module factory, and the two will together create a display technology research and development venture firm in Guangzhou. Skyworth will also build an LCD TV plant just across the street from LG Display's Guangzhou LCD module factory.
Just behind Hisense and TCL, Skyworth is the third homegrown TV maker to begin producing LCD modules.
Research and production processes of LCD modules and finished LCD TVs will be integrated to cut costs, said an executive of LG Display Shenzhen Co Ltd's TV marketing department.
Zhang Xuebin, board chairman and president of Skyworth Group, predicted that around 15 million LCD TVs will be sold in China this year. "As China's local TV makers are still dominating the domestic LCD TV market, technology, upriver resources and services will be key to future competition," said Zhang.
(By Hao Zhou)
