Lite-On Makes Green Energy Its Next Business Strength

Taipei, Feb. 5, 2008 (CENS)--Raymond Soong, chairman of the Lite-On Group, recently said his group will place its next business focus on developing strong presence in green-energy sector.

In this business, the company has opened a set up operation in solar-cell, power-converter, LED and portable-gadget sectors.

The group earned profits of NT$13 billion (US$406 million at US$1:NT$32) on revenue of NT$240 billion (US$7.5 billion) last year. The earnings represented a 20% increase from a year earlier. The company's LED, power-supply, and handset-case business units saw revenue increase 13%, 44% and 38%, respectively last year, making them the major contributors to the company's 2007 earnings growth.

So far, foreign investors have held a 57% stake in the company, whose market value topped NT$124 billion (US$3.8 billion) last year.

Soong said last year his group acquired power-transformer maker LSE International Corp. and stakes in handset-case producer Perlos. Also, the group invested in LED maker Leotek Electronics Corp., acquired Avago's infrared unit and put money into a solar-cell manufacturer.

He added that his group will begin pushing its green-energy affiliates to develop new products this year.