China's Visionox turns up heat on Samsung, BOE in OLED panels

BEIJING -- Major Chinese display manufacturer Visionox said Tuesday that it will invest 55 billion yuan ($7.6 billion) to build a plant for cutting-edge organic light-emitting diode (OLED) panels, intensifying competition in the arena with Samsung Electronics and compatriot BOE Technology.

Visionox and Anhui province's city of Hefei have signed a letter of intent for investment cooperation. The new plant in eastern China will produce cutting-edge 2,620-millimeter by 2,290-mm substrates, known as 8.6-generation technology. Production capacity will be 32,000 substrates per month.