Samsung Electronics Co. Ltd. yesterday dismissed a local media report that said it is planning to spend $500 million to build its second LCD monitor plant in China, a Samsung official told Interfax.

The China Securities Journal reported that Qu Jingdong, vice president of Samsung Electronics in greater China, said that Samsung is deciding on the location of a new LCD monitor plant in China. The report said that the new plant will mainly produce 82-inch LCD monitors, the biggest LCD monitors currently in commercial production.

However, Zou Jikai, a Samsung PR official, told Interfax yesterday that the report had "distorted" Qu's meaning.

"Qu only said that there is great demand in China for large LCD monitors, especially from media, transportation, retail, energy and government sectors. He said that Samsung will put more effort into the Chinese market," Zou said. "We see great potential for large LCD monitors in China, but this does not mean we will definitely build the plant in China. Construction of the LCD monitor plant is still being discussed, and no decision has yet been reached," Zou said.

He also said China Securities Journal was mistaken in reporting that any new LCD monitor plant would be Samsung's second in China.

"Currently, we already have at least two LCD monitor plants. One is in Tianjin, the other is in Suzhou. Even if the new plant were approved and built in China, it would not be Samsung's second," Zou said.

Samsung built its first LCD monitor plant in Tianjin in 1997. In 2007, the company spent another $100 million to double the productivity of its Suzhou plant to 60 million monitors a year.

Source:INTERFAX-CHINA