I-Chiun Precision Ventures Into American LED Lighting Market

Taipei, June 24, 2009 (CENS)--I-Chiun Precision Industry Co., Ltd., a world-caliber supplier of LED (light-emitting diode) light guide frames, announced a joint venture, ULED, with the Chinese American tycoon Jeffery Wu, a major shareholder of United International Bank of the U.S., to explore the LED lighting market in the U.S., according to W.S. Chou, chairman of I-Chiun Precision.

Chou indicated that ULED will display its LED lighting in New York and Los Angeles next month and in other cities in the second half of this year. Besides, the joint venture has bid with the Californian authorities to supply LED lighting.

In the meantime, Wu is also optimistic about the U.S.'s LED lighting market, mainly because the U.S. government's policy to completely terminate the use of incandescent lamps nationwide by 2014, which will strongly boost demand for LED lighting.

Chou added that the market for LED lighting in subways, parking lots and tunnels is incredibly huge in California, and will likely help the joint venture to generate annual revenue of over NT$10 billion (US$303.95 million at US$1: NT$32.9) fives years later. To avoid direct competition against downstream LED clients, I-Chiun confirms that ULED will specialize in only assembly of LED lighting systems, instead of packaging.