Thanks to the advancement in the technology related to television sets, the demand for Smart TV is rising every year and one of the major benefactors of that is the South Korean giant Samsung, which reportedly leads the market.
Liao Qian, Senior Vice President of TCL Technology claims that Samsung has more than 20 percent of the Smart TV market share for the past five years. This, in turn, helps TCL as the company provides more than 15 percent of the large-size display panels, making Samsung the second-largest customer of the company.
For those who are unaware, last year, in August, TCL Technology had acquired a 60 percent stake in Suzhou Samsung Electronics LCD Technology Co. and a 100 percent stake in Suzhou Samsung Display Co. for a price of around $1.08 billion. As a part of that transaction, Samsung Display paid about $739 million to become the Chinese company’s second-largest shareholder with a 12.3 percent stake.
With the purchase of Samsung‘s units, the company aims to become the largest LCD TV panel vendor and also plans to expand its product portfolio. Last year, TCL was the second-largest LCD panel maker for TVs globally, lagging behind China’s BOE Technology Group.
By selling off its units LCD Display manufacturing units to TCL, South Korean giant Samsung accelerated the exit from the LCD sector as the company has moved its focus towards LED and other new display types.
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