FNS Tech signs KRW 11.2b deal with Samsung Display

South Korea’s FNS Tech has signed on with Samsung Display to supply KRW 11.2 billion worth of color filter development equipment to its new QD production line – the Q1.

FNS Tech issued the disclosure on the deal on Feb. 20, according to industry sources on Mar. 2. In 2019, the company had signed a KRW 69.4 billion deal with Samsung Display to supply TFT wet equipment.

Previously, some of the equipment had been provided by Samsung Electronics’ sister company Semes, but Semes has shuttered the business.

Together, the two deals with Samsung Display are to end in August this year, and amount to just over KRW 80 billion. On the back of such deals, FNS Tech is estimated to post double the sales of 2019, which stood at KRW 34.1 billion.

The Elec is South Korea’s No.1 tech news platform.