Harvatek Turning Loss into Profit in 3Q

The 3Q performance for the new Harvetek Hsinchu factory profits were driven up due to rising utilization rates, said the company Chairman Billy Wang. The company expects 3Q results to make a turn for the better and ultimately affect 2013 annual performance. Taiwan LED packaging manufacturer Harvatek chairman Billy Wang attended LEDforum Taipei 2013 conference held by global market intelligence provider Trendforce Corporation. During the conference, Wang stated that 3Q performance for the new Hsinchu factory experienced a drive in profit due to a rise in utilization rate. The company hopes that this will ultimately turn loss into profit not only for 3Q but for all of 2013.

After seven consecutive quarters of losses, Wang said 3Q showed a positive performance. With the production capacity utilization rates for 3Q rising 50 percent for the new Hsinchu factory, operations for 3Q are making a turn for the better. The company hopes that with the aid of new product releases, utilization rates for 4Q are expected to rise further to meet the company’s profit goals for 2013. 

When talking about future development of the LED industry, Wang joked that LED is a nanotech industry but due to over competition, its profits are also measured on a nano level.

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