Taiwanese LCD (Liquid Crystal Display) panel manufacturer AUO announced on April 29 that the company will establish separate JVs with Chinese home electronics and appliances maker Haier and Chinese TV maker TCL, as part of its efforts to boost its market presence in China, Dow Jones reported on April 29. Under the AUO-Haier cooperation, they will jointly assemble panels for use in LCD TVs in Shandong, China, with an aim to help AUO strengthen its market presence in northern China. This JV, to be named Qingdao Haier Optronics, will be valued at US$7 million, with Haier holding a 70% stake and AUO holding the remaining 30%.

 

Meanwhile, AUO and TCL Multimedia will also jointly earmark nearly US$12 million into a new JV in Guangdong, China, which will focus on assembling flat-panel TV panels. The new JV, 51% of which will be owned by AUO and 49% of which owned by TCL, will be named Huizhou Bri-King Optronics, according again to Dow Jones.