China's TCL to invest $5 bln in a display panel production facility

HONG KONG, March 31 (Reuters) - China's electronics giant

TCL Corp said on Friday it planned to invest about

35 billion yuan ($5.08 billion) in a facility to make display

panels that can be used in smartphones and tablets, tapping

growing Chinese demand for the gadgets.

TCL plans to build a production line in the central city of

Wuhan to produce displays called LTPS-AMOLED (low temperature

poly silicon-active matrix organic light-emitting diode), it

said in a statement on the Shenzhen stock exchange.

These displays are used in electronic gadgets such as

smartphones and tablets, which are gaining popularity in China

as consumers become more sophisticated and affluent.

TCL, based in the southern province of Guangdong, said its

proposal was still pending approval from the government.

Other Chinese firms have announced similar plans. BOE

Technology Group Co Ltd said in November it planned

to invest 46.5 billion yuan in a project to produce AMOLED

display panels in Sichuan province.

($1 = 6.8830 Chinese yuan renminbi)

(Reporting by Twinnie Siu in Hong Kong and Lee Chyen Yee in

Singapore; Editing by Edmund Blair)