LG InnoTek to procure automotive LED PCB from Terranix
For its Nexlide brand Firm reducing reliance on Chinese boards
LG InnoTek will procure printed circuit boards (PCB) from Terranix, an affiliate of Youngpoong Group, for its automotive LED brand Nexlide, TheElec has learned.
The South Korean component maker is attempting to diversify its supply chain for automotive LED.
Nexlide is used in over 60 car models worldwide. Though LG InnoTek has exited its main LED business, it has retained its automotive LED business.
The company had relied on Chinese companies for boards used for the LED modules so far.
Terranix, a subsidiary of Korea Circuit, mainly manufactures boards for automotive components and LEDs.
The company lost its supply orders from LG InnoTek when the latter was restructuring its LED business starting in October 2019.
The latest deals mean Terranix will likely expand collaboration with LG InnoTek going forward.
The PCB maker recorded 78.5 billion won in sales and 200 million won in net loss last year.
Meanwhile, LG InnoTek has been selling its patents related to LED in recent months.
The firm has sold 5,775 patents to LEKIN Semiconductor of China as of Tuesday.
Out of the total, 1,978 are US patents and 3,797 patents are from South Korea __ 2,707 patents in South Korea re registered ones.
LG InnoTek is expected to have sold over 10,000 of its LED related patents to the Chinese firm.