Taiwanese LED manufacturers have been affected by Chinese manufacturers’ low pricing strategies, even the Taiwanese LED stock market was hit hard, reported SET News.
A lot of market rumors speculate Lite-On will be shutting down its LED business and laying off more than 100 employees, but the company CEO Guang Zhong (Warren) Chen denied these market rumors. He emphasized the company was restructuring certain businesses, due to changes in the industry.
An awkward atmosphere enveloped the supposedly festive Lite-On Award 2015 that took place last Wednesday in Taipei, due to market rumors of the company slashing more than 100 jobs as it undergoes restructures.
The company CEO Chen denied these market rumors vehemently: “We are transferring our employees and LED production capacities from red sea markets to our original visible and invisible lighting businesses applications. The real situation is we are adjusting our manpower.”
