EMS provider Lite-On Technology has invested in PlayNitride, a developer of microLED technology, for a stake of below 5%, according to industry sources.
PlayNitride issued new shares in second-half 2020, with a goal of raising US$50 million, but it eventually raised over US$52 million, the sources noted.
Among its original shareholders, Samsung Electronics has become the largest one after subscribing to the new shares, and LED chip maker Epistar and LCD panel maker AU Optronics (AUO) now hold nearly 20% and about 5% respectively, the sources indicated, adding that Lite-On is the only new main shareholder via the subscription.
While Lite-on will not step into production of microLED chips or products, its investment in PlayNitride aims at strengthening cooperation with strategic partners and integrating microLED supply chain makers, the sources noted, adding Lite-On expects high value-added application of microLED technology in the future, including automotive displays and wearable devices.
Lite-On's clients include many own-brand vendors, and its investment will help PlayNitride expand its client base, the sources said.
Article translated by Adam Hwang
