Chunghwa Picture Tubes (CPT) has announced the sale of a 100% stake in its LCD module subsidiary called CPT Display Technology in Shenzhen, southern China, to China Star Optoelectronics Technology (CSOT).
Market observers believe CSOT's purchase is aimed at increasing its backend module production capacity in order to meet demand for China-based TV vendor TCL, one of CSOT's main customers. TCL sold over 15 million LCD TVs in 2012 and is hoping to see similar results in 2013.
The observers also said that CPT made the sale because it is looking for more assets to produce small- to medium-size panels.
The sale is expected to be completed by the end of the second quarter of 2013 for a total of US$71.52 million.
CPT sells Shenzhen-based LCD module subsidiary to CSOT
Photo: Michael Lee, Digitimes, March 2013
Article translated by Alex Wolfgram
