Teco, Changhong, Potevio sign MOU for OLED plant

Taiwan-based electronics maker Teco Group, and mainland China-based Changhong Electric Co. Ltd and Potevio Corp. recently signed a memorandum of understanding to build a new OLED plant on the mainland, according to industry sources. The agreement between the said companies is expected to be finalized before the year ends.

The new OLED facility is slated to begin production in Q3 of next year, which will focus on 1.8-inch and 2-inch OLED panels for handset applications.

In related news, Teco Optronics Corp., a subsidiary of the Teco Group, reveals that it will invest about $619 million in a $1.2 billion project by the Sichuan provincial government, which involves the production of OLEDs.

Currently, Teco Optronics manufactures OLED panels used in MP3 players. Its production line located in Taoyuan, Taiwan processes 370 x 470mm substrates.