(Yicai Global) March 4 -- Chinese display maker TCL Technology Group has set up a semiconductor business division and is exploring investment opportunities in the chip industry to boost the firm’s competitiveness, according to its founder.

TCL is looking at making investments in the areas of power semiconductor devices and integrated circuit design through its chip industry investment fund, Li Dongsheng told Yicai Global.

In particular, TCL plans to expand the production capacity of PSDs amid increasing demand from manufacturers, including new energy vehicle makers, Li said. The Huizhou-based company also aims to seek breakthroughs in the chip design fields of smart devices, displays, and renewable energy, he added.

Li, who is also a deputy to this month’s National People's Congress, has prepared a proposal to advance the nation’s display manufacturing sector.

China’s annual production of new displays has topped CNY400 billion (USD61.8 billion), and its liquid-crystal display industry is the world’s biggest. But it has yet to become a powerhouse in new display technologies.

TCL is already vying for opportunities via acquisitions. Unit TCL China Star Optoelectronics Technology is in the process of purchasing Samsung Electronic’s LCD panel plant in the eastern Chinese city of Suzhou with the transaction expected to close this month.

Editors: Tang Shihua, Emmi Laine, Xiao Yi