Raymond Soong Indicated Optimism for 2012 and for The Firm to Show Single Digit Growth

Raymond Soong, chairman of Taiwan-based Lite-On Technology, indicated optimism for 2012 and for the firm to show single digit growth. According to KC Terng, CEO of Lite-On, the firm has been completing the expansion of capacity and automation of equipment, and the capex for 2012 is likely to shrink to NT$2.5-2.8 billion (US$83-92 million), the lowest since 2009. Terng noted that fluctuations of the market is expected in first-half 2012, but the market will likely stabilize in the second half. The LED industry faced oversupply and low prices in 2011, the worst year for the industry, said Terng. He believes the LED backlight unit (BLU) and lighting sectors are both going to outperform 2011. Lite-On has the confidence that the LED business unit will continue to grow in 2012, said Terng. Orders for camera modules have been increasing, stated Terng. The current monthly shipments have reached 15-16 million units. Monthly shipments in 2012 are likely to increase to 23 million units due to new mobile phone customers, added Terng. Source: www.digitimes.com