San'an Optoelectronics signs Agreement of Payment in Advance with Samsung Electronics
2018-02-07 14:36:39 [Print]
San'an Optoelectronics released a report on the evening of February 5th that the company's wholly-owned subsidiary, Xiamen San'an Optoelectronics Co., Ltd. signed the Agreement of Payment in Advance with Samsung Electronics Co., Ltd. on the same day. According to the Agreement, in order to establish long-term commercial cooperation, Samsung Electronics will pay USD16.83 million to Xiamen San'an in advance to purchase LED chips used for display produced by San'an production line. Both sides will discuss about expanding production on condition that Samsung's monthly orders are higher than the maximum quantity in the Agreement. Moreover, both of them will continue to have a talk about Micro LED strategic cooperation. When Xiamen San'an reaches massive production, Samsung Electronics will consider it as a major supplier and negotiate a supply agreement that both can accept.
Through this cooperation, Samsung Electronics expects to have a strategic and stable supplier while Xiamen San'an hopes to lead the Micro LED market.
Through this cooperation, Samsung Electronics expects to have a strategic and stable supplier while Xiamen San'an hopes to lead the Micro LED market.
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