Samsung in talks to sell LED biz unit in China
[THE INVESTOR] Samsung Electronics is considering selling off its LED business unit in China -- Tianjin Samsung LED -- to a Hong Kong-based private equity firm, according to The Bell on June 9.
The sale includes Samsung’s LED packaging plant and facility site. The private equity firm is currently conducting due diligence.
The report said the sell-off is likely to be followed by a sizeable restructuring of Samsung’s LED business.
The business has seen sluggish sales in recent years due mainly to cheaper products from Chinese rivals. After selling it, the company is expected to outsource LED panels.
LG Innotek, a parts maker affiliated with LG Group, has also recently started securing LED products from outside manufacturing partners after years of falling profits in its own business.
By Kim Young-won (firstname.lastname@example.org)