According to the latest reports published by South Korean local news agency, Technology giant Samsung Electronics is planning to sell its China’s Tianjin LED business to a Hong Kong based private equity firms.

The report claimed that, the sales of Samsung LED business will also include its LED packaging plant and LCD installing factory.

The report also claimed that after the sale of its LED businesses in mainland China, Samsung will implement a large-scale restructuring of its LED business.

In recent years, Samsung’s LED business has been downgraded due to the strong challenge of Chinese competitors.

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