Lite-On Secures Sizable LED Contract

Taipei, Aug. 6, 2009 (CENS)--Lite-On Group yesterday announced it had won a five-year contract to supply 140,000 LED traffic lights to the California State government.

The lights will primarily come from Lite-On subsidiary Leotek Electronics Corp., which is reportedly the No.2 LED traffic-light supplier in the States with a market share of 30%. Lite-On vows to push up the share to 50% some time next year.

Leotek now ships over 350,000 LED lamps worldwide for traffic lights a year, with its lamps installed in all of the traffic lights across San Francisco and half of the lights in South Africa. Recently, the company has successfully cracked the Indian and Malaysian markets.

Lite-On Group projects its revenue from LED-lighting sales at NT$4 billion (US$121 million at US$1:NT$33) for this year, NT$8 billion (US$242 million) next year and NT$16 billion (US$484 million) in 2011.

Industry executives pointed out that Lite-On is the exclusive Taiwanese LED-lighting maker to make its products available on international market although other big-name Taiwanese suppliers like Hon Hai Group, Delta Electronics Corp. and Everlight Corp. have plunged into the business.

Lite-On executives pointed out that auto lamps will become the company's next revenue driver over the next two years as it had become a part of the supply chains in Europe, the United States and Japan.