BOE plans major investment in high-tech for growth

BOE Technology Group Co Ltd, a major Chinese display panel maker, will increase investments in technological innovation, especially in fundamental and cutting-edge technologies, and is doubling down on new-generation semiconductor displays represented by organic light-emitting diodes and micro/mini LED displays, a top company executive said.

Chen Yanshun, chairman of BOE, said the company is transitioning from a semiconductor display enterprise into an innovation-oriented internet of things firm, with about 7 percent of its annual revenue spent on technological innovation.

Chen said BOE will invest nearly 50 billion yuan ($7 billion) in research and development over the next three years. It is accelerating steps to expand its presence in sensors, mini LED, IoT and intelligent healthcare, as well as promote the integration of artificial intelligence, big data and 5G with display technologies.