LG Innotek to Sell LED Sector and Transfer Business to Wooree E&L and Seoul Semiconductor

LG Innotek has been planning to quit its LED business and a recent report by TheElec, a Korean media, covered that LG Innotek has sold its LED sector and the back light unit (BLU) LED business will be taken over by Seoul Semiconductor and Wooree E&L.

Wooree E&L, a LED packager from South Korea, has secured the sales permit from LG Innotek to sell BLU LED of laptops, monitors, TVs and signage to LG Eletronics, Dell and HP via LG Display.

The other Korean LED company Seoul Semiconductor is reportedly taking over more than half of the sales rights of BLU LEDs for LCD TVs through LG Display.

According to the report, Wooree E&L and Seoul Semiconductor both have their own production facilities so they did not acquire the BLU LED related assets from LG Innotek. The facilities are likely to be sold to a Chinese company.

Apart from BLU LED business, LG Innotek is also a strong player in UV LED manufacture. Since it is closing the LED business, it is expected that Seoul Semiconductor will benefit from the order transfer. Other UV LED makers from Taiwan and China are also seeing order transfer.

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