Core processing equipment is ready to be moved into a new innovation center for new-type display industry, in Optics Valley. [Photo/WeChat account of Optics Valley of China]

A new innovation center for new-type display industry built by Tianma Microelectronics Co Ltd, costing 1.5 billion yuan ($224 million), was launched on Oct 29 in the East Lake High-tech Development Zone.

The zone -- which is also known as Optics Valley of China -- is located in Wuhan, capital of Central China's Hubei province.

The innovation center was launched after core processing equipment was moved into its laboratory.

The innovation center -- a wholly owned subsidiary of Tianma -- will mainly engage in research and development, design, inspections and testing of new-type display technology and related products, materials and equipment.

It is expected to officially start operations in April next year, aims to be a national-level industry innovation platform.

The center will utilize the resources of peer companies, universities, the industry supply chain and the government, and will be involved in industry collaborations and patent sharing.

It will be the first research and development technology platform covering the complete gamut of display sector processes in China.

And it will focus on new-type displays, as well as seek to achieve the goals of integrating R&D resources, improving product quantity and shortening R&D validation times, among other things.

It will become the springboard for Tianma's cutting-edge technologies and its R&D operations.

During the 12 years since it first moved operations to Optics Valley, Tianma has invested 32.6 billion yuan there.

Last year, shipment volume of Tianma LTPS smartphone panels and LCD smartphone punch hole displays were the world's first.