2014-10-09

GTAT CEO Sells out Huge Chunk of Shares Before iPhone 6 Debut

The CEO of Apple sapphire supplier GT Advanced Technology, which recently filed for bankruptcy protection, might have known financial doom was looming, according to a latest report from Wall Street Journal.
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2014-10-08

Tera Xtal Technology Remains Positive About Retaining GTAT Compensation

Taiwanese sapphire manufacturer Tera Xtal Technology remained upbeat about claiming payment from the bankrupt U.S.-based MOCVD manufacturer GT Advanced Technology (GTAT), according to a UDN report. Tera Xtal held a press conference on Wednesday under Taiwan’s Gretai Securities Market request to explain to investors the impact from GTAT’s bankruptcy filing.
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2014-10-07

Shareholder Rights Law Firm Johnson & Weaver Launches Investigation of GTAT

Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by GT Advanced Technologies Inc. (NASDAQ: GTAT) and certain of its officers. GT Advanced Technologies Inc., a technology company, provides materials and equipment for the solar, light emitting diode (LED) and electronics industries worldwide.
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2014-10-07

Strained Relations with Apple Sinks GTAT

Sapphire manufacturer GT Advanced Technologies (GTAT) bankruptcy protection announcement sent shockwaves throughout Wall Street on October 6, 2014. Investors and financial institutes were shocked, no one expected the seemingly promising Apple sapphire supplier to declare insolvency.
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2014-10-07

[Breaking News] GT Advanced Technologies Files Bankruptcy

GT Advanced Technologies (GTAT), announced that it had, together with certain of its direct and indirect subsidiaries (collectively, GT), commenced voluntary cases under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Hampshire. GT expects the court will authorize the company to continue to conduct business as usual while it devotes renewed efforts to resolve its current issues and develops a reorganization plan.
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2014-10-06

iPhone 6 Sales Drive Up Tera Xtal Revenue Last Month

Benefiting from Apple iPhone 6 and iPhone 6 Plus sales, Taiwanese sapphire manufacturer Tera Xtal’s revenue for September 2014 increased 38 percent compared to August. The company set a new monthly record last month, with order visibility extending well into late 2014.
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2014-10-06

Cree Announces Preliminary Financial Results for 1Q15

Cree a market leader in LED lighting, announced preliminary estimates of financial results for its first fiscal quarter ended September 28, 2014. Revenue for the quarter is expected to be approximately US $428 million, with earnings expected below the company’s previously announced target range of $0.25 to $0.30 per diluted share on a GAAP basis. These preliminary financial results are subject to completion of the company’s customary quarterly closing and review procedures.
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2014-10-02

Death of a Lighting Manufacturer Highlights Two Issues in China’s LED Industry

Unable to pay back creditors, a bankrupt decorative luminaire manufacturer from Henglan Town in Zhongshan City, Guangdong Province, China chose to end his life by jumping off a building. Videos of the manufacturer leaping to his death have been widely circulated on the Internet. Rumors surfaced that the company declared insolvency after receiving a bad check for several hundred thousand Chinese Yuan. The information has not been confirmed, though.
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2014-10-01

Nationstar to Become State-Owned Company After New Round of Financing

Chinese LED manufacturer Nationstar announced a new round of financing on Sept. 29, 2014 to fund the production expansion for small pitch LED display and outdoor LED display components, according to China Securities Network. After the financing, the company will become a subsidiary of Chinese state-owned Guangdong Guangye Assets Management.
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2014-09-30

Stockholders Freeze Former NVC Lighting CEO Shares in The Company

NVC Lighting announced the company froze second largest shareholder former CEO Wu Changjiang’s shares in the company, according to a Securities Times report. Wu has a total of 130 million company shares, which is worth about RMB 1.06 billion based on the company stock value of RMB 8.15 as of Sept. 29, 2014.
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2014-09-30

Taiwanese LED Industry Cools off in 3Q, PSS Manufacturers Performance Slows

“LED industry inventory level adjustments hit a peak in July,” a cnYes.com report quoted Epistar Chairman B.J. Lee. Market insiders’ project LED lighting PSS manufacturers Crystalwise Technology, Rigidtech and Aceplux Optotech. The market projects revenues in September and October will be unable to keep up high growth, and the market will be stagnant in third quarter.
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2014-09-24

Prolight Opto to Focus on LED Module and Automotive Lighting Market After Listing

Entering its 10th anniversary this year, Taiwanese LED package manufacturer Prolight Opto Technology (Prolight) will become registered on the Taiwan bourse on Sept. 24, 2014. At a press conference, the company explained it expects to apply for listing during first half of 2015, and projects becoming listed on the bourse during third quarter that year.
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2014-09-23

Taiwanese LED Manufacturers Revenue in September Affected by TV Backlight Inventory Adjustments

Market insiders in Taiwan recognize the LED TV backlight market entered seasonal adjustments in third quarter, but the adjustments are expected to impact LED manufacturers revenue in September, according to a China Times report. Taiwan’s LED chip manufacturers revenue were impacted by inventory adjustments from July to August 2014, while LED package manufacturers have kept up growth.
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2014-09-23

Konka Precision Mould Plastic Gives Up 3% Stake in Refond

Refond Opto announced Monday night, shareholder Konka Precision Mould Plastic (Konka) sold out more than 3.02 percent of its stake in the Chinese LED manufacturer, according to a Sinai report.
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2014-09-22

Harvatek Expects Revenues to Drop in 2H14

LED package manufacturer Harvatek revenues is expected to drop during third quarter in 2014, due to adjustments in lighting OEM orders, according to a Money DJ report. However, the company is expected to see revenue growth next season. While further long term observations are required to determine the impact from Cree’s patent lawsuit.
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2014-09-19

Financial Dangers Lurk in the Shadows of China’s Burgeoning LED Industry

Escalating market competition in China’s LED industry has spurred vendors to acquire orders by offering customers generous loan terms, but when buyers delay payment, it adversely affects manufacturers’ liquidity. If delayed accounts receivable become bad debts or uncollectible accounts then the consequences can be dire.
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2014-09-19

ETI Over Reliant on Government Subsidies

Elec-Tech International (ETI) financial performance and management condition has come under the spotlight, as the company’s conflict between NVC Lighting intensifies.
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2014-09-17

Cree Stocks Drop After Goldman Sachs Downgrade

U.S. LED manufacturer Cree’s stocks dropped to US $41.1 recently, after Goldman Sachs downgraded the stocks from buy to neutral, according to a report by China Post. As Cree’s lighting revenue increases, Taiwanese manufacturers believe Cree’s business focus is turning towards downstream.
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2014-09-15

Refond CEO Sheds 5 Million Company Stocks

Refond Optoelectronics recently announced its largest shareholder and company CEO Gong Weibin has sold out 5 million stocks, or about 2.29 percent of shares on Sept. 11, 2014, according to a Securities Times report.
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2014-09-15

Roshow Technology Under Investigation for Misusing IPO Funds

Roshow Technology is under China’s Securities Regulatory Commission’s (CSRC) watchful eye for violating financial regulations again, according to a National Business Daily report. In April, the company’s former Board Secretary Chai Shen was arrested for suspected insider trading.
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2014-09-11

GE Lighting Division Unaffected by Company Restructure

The market speculated whether GE will sell its lighting division after the company recently sold the home appliance division for US $3.3 billion to Swedish company Electrolux, according to a Lighting report.
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2014-09-09

San’an Opto Board Approves Cher Detank’s Equity Transfer Agreement

San’an Opto board has approved an equity share transfer agreement signed with Cher Detank.
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2014-09-09

Honglitronic Invests in New LED Manufacturing Base

On Sept. 5, 2014, Chinese LED manufacturer Honglitronic announced it signed an “investment partnership agreement” with Nanchang City government in Jiangxi Province, China, and is currently constructing a new LED manufacturing base in the city. The investment was approved by the company’s board of trustees in a recent meeting, according to a Securities Times report.
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2014-09-05

Lextar and Unity Opto Set New Revenue Records in August 2014

Lextar Electronics set another new revenue record last month, after three consecutive months of growth drove up revenue by 14.7 percent YoY to NT $1.42 billion (US $50 million), according to a UDN report. On a monthly basis, the company’s growth in August was only up 0.3 percent compared to July 2014.
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2014-09-01

B.J. Lee: Epistar Won’t be Slashing FOREPI Jobs After Merge

Epistar and FOREPI stockholders have approved the proposed merger between the two companies today, according to a report by Cynes.com. FOREPI stocks will be swapped at a rate of 3.448 per Epistar share. 
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2014-08-26

LEDinside: Chinese LED Manufacturers Revenue Performance Review for 1H14 (Part 2)

In the last article, LEDinside summarized upstream Chinese LED manufacturers performance during first half of 2014, now it is time to inspect midstream and downstream sectors.
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2014-08-25

LEDinside: Chinese LED Manufacturers Revenue Performance Review for 1H14 (Part 1)

With many LED manufacturers releasing their latest revenue performance in August 2014, LEDinside will now review and rate their performance as “excellent”, “pass” or “fail”.
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2014-08-22

Taiwanese LED Manufacturers August Performance Unaffected by Recent Stock Slip

Taiwanese LED stocks plunged on Aug. 21, 2014 over rumors of Chinese government’s intention to raise LED tariffs. To clarify market rumors, LED manufacturers Lite-On, Everlight, Epistar and Unity Opto all stated they did not receive any notices regarding increased tariffs from Chinese authorities, and an uptick in tariffs would have limited impact since they all had LED factories in China. These Taiwanese LED manufacturers also emphasized delivering good revenue performances for August 2014.
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2014-08-21

Revolution Lighting Technologies Enters Loan and Security Agreement with Bank of America

Revolution Lighting Technologies (“Revolution Lighting”) announced that it has entered into a three year loan and security agreement with Bank of America. The agreement allows Revolution Lighting to borrow up to US $25 million on a revolving basis.
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2014-08-13

Lextar Reports Steady Revenue Growth for 2Q14

Lextar Electronics Corp (Lextar) today reported consolidated revenue for the second quarter of 2014 of NT$ 3.8 billion (US $130 million), up 17.7 percent from previous quarter. Consolidated gross margin was 14.5 percent, with a 2 percent QoQ growth. Net profit for 2Q 2014 was NT$ 163 million; a basic EPS for 2Q was NT$ 0.32. 
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ProLight, a Taiwan high power LED packaging house, introduced the latest E series products which can be driven to higher drive current. E series adopts ProLight’s patented High Thermal Eutectic Technology. The eutectic material that... READ MORE

Philips Hue Phoenix from Royal Philips, the global leader in lighting, is the first in a new range of white ambience connected lamps that allow you to create the right light for different moments at home. From helping you to create a cozy atmo... READ MORE