(Yicai) May 28 -- In addition to BOE Technology Group and TCL China Star Optoelectronics Technology, also MTC participated in the bidding for LG Display’s 8.5-generation liquid crystal display panel factory in Guangzhou.

“MTC did also participate in the bidding,” Zhang Hong, television research director at Sigmaintell, told Yicai.

Claims about a third participant in the bidding have pushed the price of LGD’s plant up. The factory was sold for about KRW1 trillion (USD734 million) last year, but its price has already more than doubled.

MTC, BOE, and TCL China Star have joined the bidding, with the outcome expected to be revealed next month, Rong Chaoping, research director at AVC Revo, told Yicai.

MTC is one of the world’s leading TV equipment manufacturers. By acquiring LGD’s LCD factory, the company can improve its panel and TV supply chains and win new customers, such as Samsung and LG.

MTC reported revenue of CNY17.2 billion (USD2.4 billion) and net profit of CNY1.6 billion (USD220 million) last year, up 14 percent and 39 percent, respectively, from the previous year. However, MTC’s earnings were no match for BOE and TCL China Star’s parent firm TCL Technology Group.

BOE’s revenue and net profit totaled CNY174.5 billion (USD24.1 billion) and CNY2.6 billion, respectively, last year. TCL reported CNY174.4 billion in revenue and CNY2.2 billion in net profit in the period.

Prices of LCD TV panels have been rising this year. But while prices of small- and medium-sized LCD panels stabilized this month, those of large-sized panels continued to increase but at a lower pace, according to the latest statistics from Sigmaintell.

Chinese mainland-made LCD TV panels account for about 60 percent of the global total. Last year, South Korean TV brands such as Samsung reduced their dependence on Chinese mainland-made panels by diversifying their supplies.

Editor: Futura Costaglione