Samsung is considering selling its Chinese LED business Tianjin Samsung LED Company Limited to a private equity company in Hong Kong.

According to reports in South Korean local media, Samsung's business for sale includes a LED packaging factory and facility site. An unnamed Hong Kong private equity company showed interest in the business and the company is doing its due diligence.

The reports also revealed that after selling the LED business in mainland China, Samsung will implement a large-scale restructuring of its LED business.

In recent years, Samsung's LED business was very depressed due to the strong challenge from Chinese competitors. After selling the Chinese LED business, Samsung may outsource its LED panel business to other companies.