LITE-ON Technology (2301-tw) announced today its Board has approved the transfer of the company’s Camera Module Business to LuxVisions Innovation Limited. The transaction involves the transfer of Camera Module Business’s operations and assets, including the inventories, equipment, personnel, technologies, intellectual properties, client and supplier relationships, and accrued warranty. The transaction value is tentatively set as US$360 million, to be fully paid in cash, plus a right to obtain LuxVision’s 10% shares.

The Company’s Camera Module Business has over 15 years’ operation. Its products are mainly applied to the mobiles phoness, tablet and notebook PCs with a worldwide customer base throughout Europe, America and Asia. It is the major supplier to global leading mobiles device brands and highly recognized globally. In light of the rising demands and growth prospects of the global mobiles market, LITE-ON had gone through evalsuations and believes, through this transaction, the Camera Module Business will have more resources for further development. 

Moving forwards, LITE-ON will continue to focus on developing the new businesses, transforming towards cloud computing, LED components and outdoor/automotive lighting, automotive electronics, biomedical technology, and industrial automation, etc. With the ultimate goal of maximizing the value for shareholders, clients and employees, the Company will stay focused on strengthening the core technologies and competitiveness, developing towards a more efficient and profitable operation.

The transfer will proceed to obtain the relevant approvals as required, with an estimated completion by 2Q 2018. LITE-ON believed that the transaction shall not have material impact on its finance and operations, and the Company will make public announcement and filing according to the relevant regulations upon completion. 

Contact:

Julia Wang

Senior Director, Investor and Public Relations

Tel: +886-2-8798-2888

LITEONTech.IR@yizhaojr.com