LED packager company AOT announced that it has signed a patent licensing contract with US-based LED giant Cree. With the collaboration, the two companies will leverage their strengths in developing innovative LED applications. The contract between Cree and AOT is valid from July 1, 2019 until June 30, 2022.
AOT is been working closely with other companies under the Foxconn Group on Micro LED technology development. However, due to weak demands of the LED market, AOT saw a sluggish business operation in the first half of 2019 with an on-year revenue decrease of 21.07%.
Meanwhile, Cree reported in June that it has scaled down the revenue forecast of fiscal 4Q19 due to Huawei ban as well as tepid momentum in the LED market. The company has put its focus on high-tech semiconductor development with its lighting business sold to Ideal Industries. Cree also expanded its silicon carbide capacity with new investment.
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