(Image: LEDinside)

LITE-ON Technology today reported February consolidated revenue of NT$13.04 billion, decreased 21% M-o-M and 19% Y/Y, mainly impacted by the Chinese Lunar New Year holiday shutdown. Cumulative sales for January and February totaled NT$29.54 billion.

Optoelectronics business segment contributed a 24% share of total sales. Thanks to the growing demand from invisible LED, ongoing market share gains in LED components, coupled with street lighting’s increased shipment to Middle East market, overall LED related products posted a growth of over 10% Y-o-Y.

Information Technologies business accounted for 54% of total revenue, of which, ongoing delivery growth of high-end server and networking power management systems for cloud computing as well as power supplies for AI Smart Home devices, supported Power Systems to achieve a consecutive growth in February. Meanwhile, the Storage segment accounted for 14% of sales.

The company said it will continue to transform itself and invest more in new businesses. Its performance saw growth in markets of cloud computing, LED components, outdoor/automotive lighting, automotive electronics, AI Smart Home, and gaming console. In particular, it expects demands in the markets of cloud computing, LED components, and outdoor lighting will go up and stabilize its Q1 performance.