TAIPEI -- Wintek, Taiwan's second-largest manufacturer of touch panels, is closing and selling production facilities in order to cut costs.
Wintek has been hemorrhaging red ink, slammed by misguided faith in the power of the Windows 8 operating system to fuel demand for touch panels for notebook computers, and squeezed by competitively priced smartphone panels from Chinese manufacturers.
On Tuesday, the company announced that it has closed one of its three plants in Taiwan and one production line at another of the facilities. It is also looking for buyers for its three factories in mainland China.
These actions will leave Wintek with its remaining operations in Taiwan plus one plant in Vietnam.