Opto Tech announces capital decrease on OLED losses
The company`s decision to to cut its capital is due mainly to losses of NT$800 million from its OLED segment in 2005, according to company vice president Eric C Guo, as quoted by the Chinese-language Commercial Times.
In 2005, Opto Tech had overall losses of NT$1.2 billion. The company turned profitable in the first quarter of 2006 and reported profits of NT$385 million in the first half of 2006, according to TSE. In July, Guo said the company`s OLED segment had losses of NT$200 million in the first quarter of 2006 but will break even by year-end.
Opto Tech started developing OLED in 1996. In 2002, the company received a passive-matrix (PM) OLED technology license from Eastman Kodak.