January 10, 2008 / 3:05 AM / 13 years ago

Taiwan's Innolux prepares for LCD TV production

TAIPEI, Jan 10 (Reuters) - Taiwan’s Innolux Display Corp (3481.TW), the world’s No. 2 LCD monitor maker, is preparing for LCD TV production to diversify its business and broaden its customer base.

“Innolux will add LCD TV set, notebook PC panels, and touch panels to further complete our offerings,” Innolux said in a statement late on Wednesday. The move came at a time when major Asian LCD makers are expanding their capacity to tap the fast-growing flat-screen TV market as lower selling prices have stimulated consumers to replace their older, boxy televisions with new LCD models.

“We expect to gain more growth momentum through ever diversifying business and further broadening customer base,” said Innolux, which also makes liquid crystal displays (LCDs).

No timetable and other details were given.

Innolux, part of top Taiwan electronics gear maker Hon Hai Precision Industry (2317.TW), has said it plans to build a new LCD plant using advanced technology to make panels for TVs. Sharp (6753.T) is preparing to place a large order for LCD TVs from Taiwan, with Hon Hai’s Innolux unit hoping to land the business, the Chinese-language Commercial Times reported on Wednesday.

In late-morning trade, Innolux shares had risen 1.8 percent to T$92.20, outperforming a 0.5 percent gain on the main TAIEX share index .TWII.

Innolux’s December sales rose 20 percent from a year ago to a record T$14.5 billion, bringing total 2007 sales up 48 percent annually to T$155.9 billion, the company said. (US$1=T$32.5) (Reporting by Baker Li, Editing by Ken Wills)

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