BOE Technology Group Co faces “limited" impact from the US-China trade dispute as the biggest Chinese LCD panel maker owns key technologies and patents, a senior executive at the company told Shanghai Daily today.
BOE displays applications at the Display China 2018 show. (Photo: Shine.cn)
“The (trade dispute) impact is limited as we have localized technologies and suppliers (about 70 percent)," Zhang Yu, senior vice president of BOE, said during a display show held recently in Shanghai. "The LCD industrial chain is mainly in Asia, covering the Chinese mainland, Taiwan and South Korea.”
The US and China are embroiled in trade dispute which will see US tariffs on US$34 billion of Chinese goods come into effect on Friday. China has also threatened to retaliate with duties on the equivalent value of American products.
BOE, which has over 10 production lines in China, produced 25 percent of global LCD panels in 2017 to rank the world’s No. 1, according to researcher IHS.
LCDs, or liquid crystal display panels, are widely used in consumer electronics and automotive industries on products ranging from TV, smartphone, wearable devices to cars.
Shenzhen-listed BOE's revenue grew 36 percent year on year to 93.8 billion yuan ($14.4 billion) in 2017. Its net profit soared 302 percent from a year ago to 7.6 billion yuan.