BOE, Vestel Sign MOU for LCD TV Panel Supply
August 18, 2010
Chinese TFT-LCD (Thin Film Transistor Liquid Crystal Display) panel manufacturer
BOE Technology announced on August 11, 2010 that the company has signed an MOU
(Memorandum of Understanding) in Shanghaiwith Turkey-based LCD
TV contract manufacturer Vestel for LCD panel supply, according to a press
release by BOE. It is projected that BOE will provide Vestel with 15.6- to 55-inch
LCD panels from the fourth quarter this year to the fourth quarter of 2011. Vestel's
annual LCD TV sales reaches US$3.5 billion, and it is expected that the LCD
panels manufactured by BOE will be used for Vestel's LCD TVs, according to the BOE
press release. BOE and Vestel have partnered on LCD business starting from
2007. It is reported that BOE plans to expand its footprints in the European,
Middle East, and Indian markets taking advantage of its partner's geographic
location.