LiteOn to March into Middle East

Lite-On Technology on 22nd June held its shareholder meeting of 2017, on which it reported a cash dividend of NT$ 2.92 with a dividend payout ratio of 72% and a dividend yield of 5.8%.

In 2016, Lite-On’s consolidated revenue rose by 6% YoY at NT$ 229.5 billion (US$ 7.55 billion). Its net after-tax gain stood at NT$ 9.41 billion (US$ 309.9 million), marking a new high ever since 2002. The earnings per share (EPS) grew by 30% at NT$ 4.05, which was also the highest in the past six years.

(Image: Lite-On Technology/ LEDinside)

Lite-On reported to its shareholders the company was currently undergoing transformation to develop IoT use in five major applications- cloud computing, smart LED lighting, automotive electronics, biotechnology and industrial automation. Its technology in cloud computing, high-end camera module, LED with sensors and outdoor lighting have already matured up and contributed to over one third of Lite-On’s consolidated revenue.  

Lite-On announced its move to officially march into the Middle East market after winning a street lighting bid to supply approximately 100 thousand street lamps. It has already produced a small batch and more is said to be manufactured in Q3 and Q4.

In the future, according to Warren Chen, CEO of Lite-On Group & Lite-On Technology, the corporation will also start the plan to ramp up its capacity. In particular, the construction of its new operational headquarter located in the Nanzih Export Processing Zone will soon start to run in late June, expected to begin the first round of production in 1H19 with a focus on automotive electronics, including car lamps, automotive camera and lens modules. The next round will focus on cloud computing technology.

In terms of automotive electronics, Lite-On aims at LED automotive lighting. The penetration of LED in headlights including daytime running light, high and low beam is still below 10%, suggesting more room for further development. 

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