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2008/04/29

Lite-On Technology Corporation announces the transfer of Digital Display Business to Wistron Corporation

Lite-On Technology Corporation (2301.TW) announced today that its Board of Directors has approved the transfer of the company’s Digital Display Business to Wistron Corporation for around NT$9.2 billion. The transaction involves the transfer of Digital Display Business sales, assets, liabilities, as well as its inventory, equipment, intellectual property, long-term investment, accrued warranty and personnel, and is expected to be complete by the third quarter of 2008. To enhance its strategic ties with Wistron, Lite-On plans to take part in a private placement issued by Wistron, and contribute an investment amount of up to NT$1.2 billion.

The Digital Display Business, one of the top 5 players in the world and an 8% global market share, generated NT$82.75 billion in revenue for 2007. This transaction enables Wistron to complement its existing product offerings including a line of LCD TVs, and further increase its market presence in the global display industry. Wistron will be able to provide a broader platform of products to current customers.

Looking forward, Lite-On will concentrate on a simplified product portfolio and focus on its core businesses to fulfill its customer-centric growth strategy. In addition, the company continues to enhance its market share and product efficiency in its Power Supply business. With a competitive LED product portfolio, Lite-On has successfully entered the LED back-light market and has invested further in Leotek, one of the top 2 traffic lights providers in the U.S. Thanks to its investments in solar energy, PV Inverter and LED street light markets, Lite-On is a pioneer that can provide a comprehensive supply chain for the green energy industry, further strengthening its leading position in the global Opto-Electronic components industry.

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