TAIPEI (Taiwan News) — Taiwan’s Lite-On Technology Corporation is reducing its reliance on China by shifting new investment projects to Southeast Asia and the United States, reports said Tuesday (April 19).
As China’s COVID-19 lockdowns affect supply lines, the electronic component manufacturer is planning to expand its automotive and optronics operations to Thailand, the Liberty Times reported. In addition, a consumer electronics factory is planned for Vietnam and an assembly plant for the U.S.
Lite-On CEO Anson Chiu (邱森彬) said at an investors’ meeting that the company is avoiding investing too much in China so it can balance regional risks. If the pandemic slows down in China during the second quarter, the company’s revenue will show double-digit growth for that period, he said.
Despite the lockdowns, Lite-On’s main production base in the Chinese city of Changzhou has been operating normally, according to Chiu, though the communist government’s COVID policies will still affect supply chains.