Taipei, May 16 (CNA) Taiwan-based manufacturing giant Hon Hai Precision Industry said on Monday it would not send a company representative to sit on the board of flat-panel maker Innolux Corp. but will continue to focus on its "3 plus 3" initiative.
Taipei, May 16 (CNA) Taiwan-based manufacturing giant Hon Hai Precision Industry said on Monday it would not send a company representative to sit on the board of flat-panel maker Innolux Corp.
Hon Hai Precision Industry Co (鴻海精密) yesterday said it would not send representatives to the board of flat-panel maker Innolux Corp (群創光電).
Hon Hai, known as Foxconn Technology Group (富士康科技集團) outside of Taiwan, said in a statement that its wholly owned subsidiary Hyield Venture Capital Co (鴻揚創投), which owns a 1.67 percent stake in Innolux, would not send any representatives to the flat-panel company as board members.
Following the announcement, Hon Hai shares rose 0.48 percent to NT$104.5, while Innolux shares fell 0.74 percent to close at NT$13.35 on the Taiwan Stock Exchange.
Innolux, which has proposed reducing its capital by 9.5 percent
Innolux supply constraints to continue due to parts shortage
By Lisa Wang / Staff reporter
LCD panel maker Innolux Corp (群創) expects panel supply constraints to continue through the year, due to shortages in key components and water supply, the firm said yesterday.
Chips used in panels for driver ICs, touch sensors and power management equipment have been in short supply, as manufacturers prioritized investment in higher-end chips, the Miaoli-based company said.
“The visibility of key component supply is very low,” Innolux president James Yang (楊柱祥) told an investors’ conference in Taipei yesterday. “The lead time of IC chips supply are more than six months, from four months. We cannot even receive clear answers about delivery.”