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Electronic Technology

Innolux Corp.

Company Background

Innolux is Taiwan's leading display panel manufacturer, with assets totaling over $15 billion. It is the world's third-largest flat-panel maker after South Korea's Samsung and LG.


The company manufactures a wide range of LCD panels and touch panel screens used in TVs, desktop computers, laptops, and medical- and automotive-use panels. Innolux employs more than 95,000 people worldwide. Its major plants are in the Taiwanese cities of Zhunan and Tainan. The company also operates module plants in mainland China.


Innolux is looking to grow and has been expanding production capacity. It plans to invest about $3 billion in a sixth-generation LCD plant producing smartphones screens in the southern Taiwanese city of Kaohsiung, hoping to increase its competitiveness against rivals from South Korea and China. The facility will be used to supply a panel factory that employs low-temperature polysilicon technology -- used in Apple's iPhones -- and expected to enter production in late 2016.


Innolux also focuses on LCD panels for 4K TVs, which boast image resolutions four times finer than full high-definition TVs.


A subsidiary of Foxconn Technology Group in Taiwan, Innolux was established in 2003. It merged with Chi Mei Optoelectronics and Toppoly Optoelectronics in 2010, in what was the industry's largest-ever merger. Chimei Innolux was renamed Innolux in 2012 to differentiate it from the Chimei brand.


Chairman Tuan Hsing-chien is considered an LCD industry pioneer. Before joining Innolux, he founded Taiwan's first thin-film transistor LCD company, Unipac Optoelectronics. Unipac later merged with Acer Display Technology to form AU Optronics, an Innolux rival in Taiwan.

Business Summary

Innolux Corp. is engaged in the manufacture and sale of thin-film-transistor liquid-crystal display and touch panel modules. It offers television, desktop monitors and notebook computer, audio and video, and mobile panels. It also offers glass, film, and one glass capacitive touch panels. The company was founded on January 14, 2003 and is headquartered in Miaoli, Taiwan.

Financial Highlights

Dec 2022 TWDUSD
Gross Profit-6,999.44M-234.77M
Operating income-31,664.99M-1,062.12M
Income before tax-26,212.50M-879.23M
Net income-27,990.25M-938.86M
Diluted EPS-2.75-0.09
Dividends Per Share1.040.03
Total Assets383,741.49M12,485.28M
Total liabilities130,746.77M4,253.93M
Total equity252,475.22M8,214.45M
Operating cash flow790.33M26.50M
Currency in TWDCurrency in USD

Historical Data

 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 279,376.11M 251,971.20M 269,911.05M 350,076.69M 223,715.75M
Gross Profit 26,677.16M 2,857.72M 23,703.48M 91,380.78M -6,999.44M
Operating income 4,835.29M -19,933.89M 1,811.79M 62,713.07M -31,664.99M
Income before tax 6,125.56M -16,832.72M 2,380.57M 62,345.96M -26,212.50M
Net income 2,222.76M -17,442.99M 1,636.14M 57,534.46M -27,990.25M
EBITDA 40,702.70M 15,171.31M 37,352.11M 98,985.93M 764.99M
Diluted EPS 0.24 -1.95 0.18 5.90 -2.75
Dividends Per Share 0.06 0.11 0.44 2.10 1.04
Total Assets 411,919.60M 369,764.34M 379,559.83M 467,519.59M 383,741.49M
Total liabilities 156,928.89M 137,654.31M 141,992.79M 162,722.65M 130,746.77M
Total equity 254,990.70M 231,927.70M 237,369.66M 304,347.40M 252,475.22M
Operating cash flow 53,581.33M 14,638.94M 22,540.18M 102,287.66M 790.33M
 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 9,264.83M 8,151.05M 9,166.76M 12,533.23M 7,503.97M
Gross Profit 884.68M 92.44M 805.02M 3,271.55M -234.77M
Operating income 160.35M -644.84M 61.53M 2,245.21M -1,062.12M
Income before tax 203.13M -544.52M 80.84M 2,232.07M -879.23M
Net income 73.71M -564.26M 55.56M 2,059.81M -938.86M
EBITDA 1,349.80M 490.77M 1,268.55M 3,543.83M 25.65M
Diluted EPS 0.00 -0.06 0.00 0.21 -0.09
Dividends Per Share 0.00 0.00 0.01 0.07 0.03
Total Assets 13,401.42M 12,334.93M 13,508.42M 16,898.09M 12,485.28M
Total liabilities 5,105.53M 4,591.99M 5,053.48M 5,881.47M 4,253.93M
Total equity 8,295.88M 7,736.85M 8,447.91M 11,000.37M 8,214.45M
Operating cash flow 1,776.89M 473.55M 765.51M 3,662.04M 26.50M

Valuation Measures

Dec 2022
Operating margin-14.15%
Profit margin-12.51%

Key executives

  • Chairman & Chief Executive Officer: Jim Hung
  • President, Chief Operating Officer & Director: Yang Chu-Hsiang
  • Chief Financial Officer: Chiu Wei Cheng
  • Director & Executive Vice President: Chin Lung Ting
  • Vice President & GM-Mobile Device Center: Yang Hung-Wen


  • Hon Hai Precision Industry Co., Ltd. (3.0%)
  • Foxconn Technology Co., Ltd. (2.3%)
  • BlackRock Fund Advisors (2.0%)
  • The Vanguard Group, Inc. (1.9%)
  • Dimensional Fund Advisors LP (1.3%)
  • Norges Bank Investment Management (1.2%)
  • BlackRock Advisors (UK) Ltd. (0.7%)
  • Geode Capital Management LLC (0.6%)
  • Charles Schwab Investment Management, Inc. (0.5%)
  • Cathay Securities Investment Trust Co., Ltd. (0.3%)

Contact Details

  • Website:
  • Address: No. 160 Kesyue Road, Hsinchu Science Park, Miaoli, 35053, Taiwan
  • Phone: +886.37.58.6600

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Last Updated on 26 May, 2023

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