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Lite-On Technology has reported August consolidated revenues of NT$21.05 billion ($662 million), up by 9% from the previous month and 18% year-on-year, hitting a monthly record high for five years. Stable end-market demands of Lite-On's core business pushed cumulative sales from January to August to NT$144.01 billion ($4.53 billion), an increase of 4% YoY.
The Optoelectronics business segment, which contributed about 23% share of Lite-On’s overall revenue, posted revenue growth of 8% MoM and 4% YoY, mainly driven by market share gains in LED components and outdoor lighting, vehicle lighting and street lighting, coupled with increasing shipment of high-end camera modules.
The Information Technologies sector, which accounted for 50% of sales for the company, achieved a revenue growth of 15% MoM and 17% YoY, of which, cloud computing application products posted continuous revenue growth year-on-year, supported by shipment growths of high-end server and networking power management systems as well as high-end server enclosures.
Lite-On’s Storage business, which accounts for 20% of total revenue, achieved a sales growth of approximately 60% YoY as a result of increased end-market demands from cloud computing and gaming applications.