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)