Lite-On Technology has announced capital increases in its subsidiaries in Vietnam and Jordan for expanding production capacities outside China. The total amount of the investment is US$ 97 million.
Lite-On has increased its investment in Lite-On Vietnam with US$ 77.4 million to build new factories. Meanwhile, the company also has reported an increase in capital of US$ 20.14 million in its Jordan subsidiary, KBW-LITEON.
Nearly 80 percent of Lite-On’s production is from China, making it the biggest production center for the company. Due to the increased cost in China and the tariffs caused by the US-China trade war, Lite-On has continued to extend its production capacities in other countries. Currently Lite-On owns factories in Vietnam, Thailand, Philippines, Malaysia and Mexico.
The company has reported a revenue of NT$ 53.4 billion (US$ 1.73 billion) for 3Q18, down by 2.44% QoQ and 4.67% YoY. The revenue dropped because Lite-On has transferred its business of mobile phone camera module to a Chinese company. Although its LED component and outdoor lighting business has grown, the company is not optimistic about its future prospects due to the situation created by the trade war.
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