According to the latest estimate issued by Taiwan’s Industry & Technology Intelligence Service (ITIS) under the Ministry of Economic Affairs, Taiwan’s LED industry may recover in the second quarter of 2012, with its output value to grow 33% quarter-on-quarter to NT$22.9 billion (US$763 million), to halt consecutive declines in the past four quarters.

The production value of Taiwan’s LED industry reached NT$17.2 billion in the first quarter, down 10% from the previous quarter and down 15% year on year, according to statistics released by the ITIS.

However, the ITIS also stressed that the inventories of LED manufacturers have dropped since the beginning of this year, and some of the producers also started to receive rush orders for LED-backlights, enabling most of the LED manufacturers to boost utilization of production capacity to over 80%, all of which will improve the performance of the industry in the second quarter.

Accordingly, ITIS predicted that the LED industry’s output value for the second quarter may increase 33% to NT$22.9 billion (US$763 million) which, in turn, will edge up 0.88% year on year.

Based on the industry’s promising performance in the first half, the ITIS estimates the industry’s production value for 2012 to surge 8% from 2011.