Chi Mei to Increase Investments in LEDs, Commercial Times Says

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June 9 (Bloomberg) -- Chi Mei Optoelectronics Corp. will increase investments in light-emitting diodes used in laptops by 50 percent within three years, the Commercial Times reported, citing President Ho Jau-yang.

Chi Mei's LED unit, which became profitable in the second quarter, had initially planned to invest NT$10 billion ($330 million) within five years, the Taipei-based Chinese-language newspaper said today. The report didn't clarify how the new spending budget differs from the previous plan.

Chi Mei is Taiwan's second-largest liquid-crystal display maker behind AU Optronics Corp. LEDs are semiconductors that produce light when given an electric charge and consume less power than traditional cold-cathode fluorescent lamps.

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