LED boom is not good LG Innotek revenue performance is not as expected

Due to the global downturn and weak demand, LG Innotek's Q3 revenue in 2011 was 1 trillion 67.1 billion won (about 922.28 million US dollars), and the operating profit rate was -0.5%. In the LED business unit, it was especially affected by TV. The impact of sluggish demand, sales volume and average price decreased, Q3 LED backlight revenue in 2011 decreased by 10% compared to 2011 Q2. Accumulated in the first three quarters of 2011, maintaining a similar proportion of 21.7%, showing that the LG Innotek LED business unit in 2011 did not perform as prominent in 2010.

Although the LG Innotek LED business performance is not as expected, but the company's goal is to convert the Pozhou factory MOCVD equipment into 6-inch Lei chip manufacturing. LG Innotek said that if the 6-inch LED chip reaches the stable stage of mass production, the estimated cost will be reduced by 30% compared with the 2-inch LED chip.

LG Innotek is committed to improving LED production efficiency, and its long-term goal is to expand its application in the LED lighting market. LG Innotek mainly provides LED chips, package components and modules. LG Electronics mainly provides LED lighting products and enhances brand awareness. The two share resources and utilize the synergies of the Group to reach the domestic and overseas markets in 2015. The market share is 15% and 6%.

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