On March 18, TCL Technology announced that its subsidiary, TCL CSOT, had completed the industrial and commercial registration changes for the acquisition of 80% equity in LG Display (China) Co., Ltd. (hereinafter referred to as “LGDCA”) and 100% equity in LG Display (Guangzhou) Co., Ltd. (hereinafter referred to as “LGDGZ”).
Following the completion of the transaction, LGDCA has been renamed Guangzhou CSOT Technology Co., Ltd., while LGDGZ has been renamed Guangzhou CSOT Display Co., Ltd. LGDCA and LGDGZ will be included in the company’s consolidated financial statements starting from the second quarter of 2025.
According to previous announcements, LGDCA is an 8.5-generation large-size LCD panel factory mainly producing large-size LCD panels for TVs and commercial displays. LGDGZ is a supporting module factory primarily engaged in manufacturing LCD display modules.
In addition to its transaction with LG Display, TCL CSOT also acquired the remaining 20% equity of LGDCA through a public auction at Guangzhou Equity Exchange in January 2025 for RMB 2.615 billion from Guangzhou High-Tech Zone Technology Holding Group Co., Ltd.
With the completion of this transaction, TCL CSOT has not only gained control over the two factories but has also obtained the necessary technology and support services for their operations.
Regarding this transaction, TrendForce previously stated that the successful completion of this acquisition would help TCL CSOT strengthen its market influence and increase the combined market share of LCD TV panel supply area among the top three manufacturers to nearly 70%.
Meanwhile, LG Display is expected to use the proceeds from the sale to further invest in its OLED business and alleviate financial pressure.
(Photo credit: TCL)D business and alleviate financial pressure.
(Photo credit: TCL)
