TCL Technology Group’s panel-making subsidiary, TCL China Star Optoelectronics Technology, put its new production line for high-end liquid crystal displays into operation in Guangzhou on September 29, reported Yicai Global.

The start of the Generation-8.6 LCD production line, which has cost RMB35 billion ($4.9 billion), will bring new growth for parent company TCL Technology, the Shenzhen-based display maker said.

The line can roll off 180,000 to 220,000 base panels a month at full capacity, with annual output valued at RMB30 billion($4.22 billion), Yicai Global learned at the commissioning ceremony. It is expected to benefit TCL Technology to the tune of RMB350 million ($49.4 million) a year.

This year and next, the line will turn out 50-inch ultra-high-definition television screens, 27-inch display panels, 14-inch laptop panels, and six-to-10-inch cellphone and tablet screens.

When at full capacity, it will focus on information technology products and is expected to account for about 15% of global IT panel capacity, a senior analyst told Yicai Global.

The production line’s start coincides with a turning point in the recovery of the panel industry. After more than a year of falling price globally, major manufacturers cut production and destocked in this quarter, market consultancy Sigmaintell said in a recent report. The prices of all panel sizes are expected to gradually stop falling and stabilize in in the fourth quarter.

Huizhou-based TCL Technology is China’s second-largest LCD panel maker after BOE Technology. Affected by falling product prices, TCL Technology’s net profit plunged 90% from a year earlier to RMB663.5 million($93.24 million) in the first half, though revenue rose 13.6% to RMB84.6 billion($11.89 billion), according to Yicai.