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Opto Tech to spin off LED business

LED chip and Si-based sensor chip maker Opto Tech has announced it will transfer LED lighting/display business unit to its newly established wholly-owned subsidiary.

The transfer is in line with Opto Tech's transformation toward R&D and production of optoelectronic semiconductors, said company spokesman Jeffrey Tai, adding the subsidiary will issue 20 million new shares each with a par value of NT$10 to be given to Opto Tech, Tai said.

The business unit brought in first-half 2021 sales revenues of NT$295.2 million (US$10.67 million), taking up 10.43% of Opto Tech's consolidated revenues. Of the sum, 47% came from North America, 39% from the domestic market, 8% from Southeast Asia and Australia, and 5% from Japan and South Korea.

Opto Tech has obtained orders for LED lighting and displays with shipments scheduled until 2022.