On August 9, GoerTek Inc. announced that, in order to promote the maturity of Micro LED–related technologies and products and to support the future development of its AI smart glasses and AR (augmented reality) business, its controlling subsidiary, GoerTek (Hong Kong) Co., Ltd., plans to provide a five-year interest-bearing loan with equity return rights of up to USD 100 million to UK-based Haylo using its own funds.

Haylo will use the loan to acquire 100% equity of Plessey Semiconductors Limited (“Plessey”) and to inject additional capital into Plessey. The funds will be used for Plessey’s purchase of Micro LED–related fixed assets and for supplementary working capital.

Plessey, founded in 2000, specializes in developing ultra–high-resolution Micro LED displays for AR and VR devices. The company has collaborated with AR glasses maker Vuzix and tech giant Meta to jointly develop AR/VR microdisplay technologies.

In January this year, Plessey and Meta released their latest research results — the world’s brightest red Micro LED display, capable of delivering up to 6,000,000 nits of brightness at high resolution (<5 microns).

In fiscal year 2025, Plessey recorded revenue of approximately USD 72.72 million and a net profit of about USD 2.8 million.

As a well-known Chinese manufacturer of precision acoustic, optical, and other components and smart hardware, GoerTek has long supplied products to major international brands like Apple and Meta. To reduce reliance on key clients, the company has been actively developing its smart hardware business focused on VR/AR headsets and smart game consoles, aiming to transform into a leading VR/AR contract manufacturer and create new growth drivers. In the first half of 2022, smart hardware became GoerTek’s largest business segment, driving its overall gross profit margin.

Public data shows GoerTek currently holds a major share in the VR/AR terminal device OEM market, providing turnkey VR/AR glasses manufacturing services for Meta, Pico, Sony, Samsung, Huawei, Xiaomi, and other major tech companies. It also supplies optical and acoustic modules, offering customers complete VR/AR system-level solutions from components to modules to finished devices.

As to optical technology, GoerTek established Goer Optical in 2012 to focus on the R&D and production of optical display technologies for VR & AR and micro-projection. In 2020, Goer Optical completed an automated mass production line for 12-inch wafer nanoimprint diffraction waveguides and has since successfully developed AR optical engines based on DLP, LCoS, and Micro LED technologies.

In the Micro LED technology field, Goer Optical has developed a single-layer lens full-color AR diffraction waveguide display module and a Micro LED single-green diffraction waveguide display module, enabling manufacturers to create consumer-grade AR glasses that are portable, stylish, and visually impressive.

GoerTek stated that this investment aims to drive the development of the AR glasses industry, enhance its upstream resource integration capabilities, strengthen strategic cooperation with leading industry customers, support the future growth of its related businesses, and generate investment returns.

(Photo credit: GoerTek)

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