Samsung Electronics will acquire Samsung Display’s entire 10.16% stake in Chinese panel maker TCL China Star Optoelectronics Technology (TCL CSOT) for 1.2718 trillion won, or approximately $1.0 billion. The Samsung Electronics board approved the transaction on Oct. 29, and the company disclosed the decision on Oct. 30. The over-the-counter purchase is intended to strengthen strategic cooperation with a major LCD supplier and support panel procurement for Samsung’s television business. Samsung Display is withdrawing from LCDs and reorganizing around OLED, reducing the strategic need to retain the holding. Earlier reporting valued the transaction at about $950 million or $893 million, reflecting differing dollar conversions. Existing records also said Samsung Display acquired the stake for 875.8 billion won when it sold its Suzhou LCD plant to CSOT, generating a 396 billion won gain, or about 45%; the new account dates that acquisition to 2021, versus an earlier 2020 date. Separately, Samsung Electronics marked its 57th anniversary with Vice Chairman Jun Young-hyun and President Roh Tae-moon urging employees to restore its technology and quality edge and accelerate artificial intelligence capabilities.