BOE to invest $8.84bn to build advanced OLED display manufacturing facility to compete with Samsung

BOE intends to build an advanced facility for the production of OLED panels. The Chinese company is ready to invest almost $9bn in the creation of the factory.

Here's What We Know

The factory will appear in the Chinese city of Chengdu. The cost of construction will be $ 8.84 billion. The new enterprise will allow BOE to create OLED displays using 8.6 technology, which is currently mastered only Samsung.

The new OLED panels will be designed for laptops and tablets. It is expected that the Chinese company will be able to produce 32,000 substrates monthly with a size of 2620 x 2290 mm.

BOE will control a 52.6 per cent stake in the management company, with state investors holding the remaining securities. The plant will create more than 8,000 new jobs. The new facility is expected to be in place within two years.

The Chinese company controls less than 9% of the OLED display market. It is now capable of producing 1500 x 1850mm substrates using sixth-generation technology. The market leader is Samsung with a 62.8% share, which plans to invest more than $3bn to launch production of panels using 8.6 technology.

Source: Nikkei