China's leading TV makers Hisense Group and TCL Group signed a strategic cooperation agreement in Shenzhen, Guangdong.
Representatives from both companies said that they will use their respective advantages to implement in-depth cooperation in the TV LCD display panel sector. At the same time, the two parties will join hands to promote mobile phone display panel cooperation to provide consumers with better quality and higher specification LCD display products.
The two parties did not reveal more details of the deal, and they did not reveal financial arrangements of the cooperation. However, Chinese media speculate the deal is focused on enhancing Hisense's purchase of displays from Shenzhen China Star Optoelectronics Technology, a subsidiary of TCL Group.
And serendipitously during the signing of the strategic cooperation agreement, Shenzhen China Star Optoelectronics Technology's new product line for the 11th-generation TFT-LCD and AMOLED new displays announced the start of its formal operations.