TCL Technology and Samsung Electronics Co., Ltd. (Samsung Electronics) jointly announced after market close on October 30 that Samsung Display Co., Ltd. (Samsung Display) will transfer its 10.16% stake in TCL China Star Optoelectronics Technology Co., Ltd. (TCL CSOT) to its parent company, Samsung Electronics, as part of efforts to strengthen strategic collaboration.
Upon completion, Samsung Electronics will become a direct shareholder of TCL CSOT, holding a 10.16% stake. The transaction will not affect TCL Technology's controlling position, with TCL Technology continuing to hold an 82.82% stake in TCL CSOT.
Samsung Electronics is one of the world's leading electronics companies, with businesses spanning TVs, displays, smartphones, home appliances, and other consumer electronics. Samsung has ranked among the world's top sellers of TVs and smartphones. It is also a major manufacturer of memory and other semiconductor chips.
TCL Technology said the change in shareholding will help TCL CSOT deepen strategic cooperation with Samsung Electronics, an important customer with which it has an established business relationship in display panels. The move is expected to strengthen alignment with a key customer, support continued business development, reinforce existing business ties and create opportunities for closer collaboration across the display value chain.