Taiwanese panel producer Innolux has announced the restructuring of the company’s organization. Robert Shiao, the prior president of the company, has become Vice Chairman. James Yang was promoted as President from Vice President and will oversee the business unit, operation unit and manufacturer unit of Innolux. According to Jim Hung, Chairman of Innolux, the new management team would strengthen the flexibility and competitiveness of the company.
As part of the Foxconn group, Innolux has been working closely with the group on technology development and resource integration. Innolux together with Foxconn have bought shares in Vizio as a strategy to expand its panel business in North America. In addition, Innolux has set up a business unit in India as the Foxconn group has planned to increase its investment in India to set up manufacturing facilities for smartphones and panels.
Innolux is also an active player in developing Micro LED technology and has been pushing its Mini LED production. The company has set up a Micro LED business unit to focus on the development of active matrix Mini LED and Micro LED technologies. Innolux has revealed that it will start shipping Mini LED public information display (PID) in 4Q18. The company has also been accelerating its production on large sized Mini LED TVs which are expected to be released in the second quarter of 2019.
Innolux has also focused on TV sets, automotive panels and smart retail applications. The company has received orders for automotive panels from several automotive manufacturers, boosting its growth for the next few years.
The company has announced its consolidated revenues in September of NT$24.4 billion (US$ 788.24 million) with a flat MoM growth and a decrease of 9.5 % YoY. In the third quarter of 2018, Innolux reported revenues of NT$ 73.9 billion (US$ 2.39 billion) with a decrease of 7% YoY and an increase of 11.2% QoQ.
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