It is reported that Samsung (Sansung) and Corning (Corning) signed a new joint venture agreement, will invest 600 million US dollars to build a new TET-LCD factory in China. They plan to manufacture a special glass substrate for the new OLED device at this plant.
According to news released by the two companies, Corning and Samsung have signed a memorandum of understanding with the New District Government of Wuxi City, Jiangsu Province. If this agreement is passed, it is expected to start construction at the end of 2012 and it is expected to be officially put into production by the end of 2013.
The new company will supply glass substrates for Samsung LCD in China. These glass substrates will be used in both Samsung's own products and sold to competitors for their products.
Samsung said that while China's new factory is being built, some factories in South Korea will reduce production, so that the new factory can provide good materials for the production of Samsung's new panels. The main purpose of Samsung and Corning Korea's factories is to combine Samsung's OLED display technology with Corning's LOTUS glass technology, which will provide a more powerful and durable display for Samsung's mobile phones, as well as expand the Korean market. As the production focus shifts from the Korean OLED factory to the Chinese LCD factory, both companies will continue to manufacture clearer and more durable displays with Samsung smartphones and other competitors.
According to news released by the two companies, Corning and Samsung have signed a memorandum of understanding with the New District Government of Wuxi City, Jiangsu Province. If this agreement is passed, it is expected to start construction at the end of 2012 and it is expected to be officially put into production by the end of 2013.
The new company will supply glass substrates for Samsung LCD in China. These glass substrates will be used in both Samsung's own products and sold to competitors for their products.
Samsung said that while China's new factory is being built, some factories in South Korea will reduce production, so that the new factory can provide good materials for the production of Samsung's new panels. The main purpose of Samsung and Corning Korea's factories is to combine Samsung's OLED display technology with Corning's LOTUS glass technology, which will provide a more powerful and durable display for Samsung's mobile phones, as well as expand the Korean market. As the production focus shifts from the Korean OLED factory to the Chinese LCD factory, both companies will continue to manufacture clearer and more durable displays with Samsung smartphones and other competitors.
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