Lite On to Increase Presence in Mainland China's LED Market

Taipei, May 18, 2012 (CENS)--The Lite On Group will open an operation center in Hubei Province of mainland China to tap the mainland's thriving domestic market for optoelectronics products, according to group chairman, Raymond Soong.

Soong made the statement when recently receiving the visiting Hubei Provincial Governor Wang Guosheng at the group's headquarters in Taipei City.

Geographically, the province is at the heart of the mainland's domestic market and has been vigorously developing the optoelectronics industry in recent years with the aim of developing itself into a pivot of the optoelectronics industry in the mainland. According to Wang, the province is now the world's No.2 supplier of optic fibers in terms of volume and the mainland's No.1 producer of optoelectronics components.

So far, the group's investment in the province is a transformer-manufacturing venture held by subsidiary LSE International Corp. Jiangxi Province is another location in the central region of the mainland that the group is operating outlets.

The company's optoelectronics products for the central region market will be LEDs, streetlights and lighting equipment in the initial stage.

According to Soong, the group opened an operation center in eastern region of the mainland in 2009 and its South China center, headquartered in Guangdong Province, will enter operation in the second half of this year.

The group's chief executive officer (CEO), Warren Chen, pointed out that the group's revenue for the first half will stay on par with that it had in the same half of last year, totaling around NT$58.5 billion (US$2.01 billion at US$1:NT$29). He estimated that the group's revenue for this quarter is likely to rise 10% from last quarter as the group's factories in Thailand battered by the floods last year have resumed full production. He also estimated the possibility for the company's revenue for the second half this year to grow from last half is pretty high since the second half is normally a high season.