Taiwanese LED chip manufacturer Genesis Photonics Inc. (GPI) announced record high revenues in July of NT$ 368 million (US$ 12.32 million), as lighting products revenue ratio jumped to 50%. Increased shipments in flip-chips, 3D COB products, and stable orders from Japanese lighting clients contributed to the increase in lighting revenues. Under the pressure of lowering prices caused by oversupply in the LED industry, the upstream LED chip manufacturer has established a clear lighting transformation strategy for 2013.