BNGT is partnering with Musem, the primary development vendor of the world's No.1 TV manufacturer, to promote the supply of core components.
On the 21st, BNGT announced that it signed an MOU (Memorandum of Understanding) with Musem for 'patented technology alliance' and 'establishment of overseas factories and joint R&D to expand the electric and electronic components market.'
According to BNGT, Musem is a company that develops and manufactures coil magnetic components such as inductors and transformers through its own patents and supplies them to Samsung Electronics, LG, TCL, and others. Inductors and transformers are core components used in all TV products, from older models to the latest premium TVs.
A company official explained, "According to Musem's internal investigation, the coil magnetic components market that BNGT is entering is estimated to be worth 320 billion KRW based on the three major global TV manufacturers," adding, "According to market research firm Omdia, the cumulative global TV market size as of the third quarter last year reached 72.39 billion USD (approximately 98.11 trillion KRW)."
The two companies plan to establish a BNGT Vietnam factory in Vietnam through this contract and promote the supply of coil magnetic components. According to BNGT, the factory is expected to be completed and start mass production within this year.
A company representative stated, "The establishment of an overseas manufacturing plant will foster technological cooperation with existing suppliers and serve as an opportunity to increase product market share," adding, "By promoting supply to global TV companies, we plan to expand our market share targeting the worldwide TV market."
They further added, "We plan to sign a main contract soon to use all of Musem's patents and technologies and to jointly conduct future research and development."
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