ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintTitle ChevronIcon Twitter
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 2019 TWDUSD
Gross Profit2,857.72M92.44M
Operating income-19,933.89M-644.84M
Income before tax-16,832.72M-544.52M
Net income-17,442.99M-564.26M
Diluted EPS-1.76-0.05
Dividends Per Share0.100.00
Total Assets369,764.34M12,334.93M
Total liabilities137,654.31M4,591.99M
Total equity231,927.70M7,736.85M
Operating cash flow14,638.94M473.55M
Currency in TWDCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 364,132.98M 287,089.27M 329,174.40M 279,376.11M 251,971.20M
Gross Profit 46,412.12M 25,902.11M 68,603.33M 26,677.16M 2,857.72M
Operating income 22,430.70M 6,413.24M 47,022.20M 4,835.29M -19,933.89M
Income before tax 14,645.60M 4,804.66M 48,666.33M 6,125.56M -16,832.72M
Net income 10,815.59M 1,870.68M 37,028.60M 2,222.76M -17,442.99M
EBITDA 75,988.70M 47,820.65M 80,575.52M 40,702.70M 15,171.31M
Diluted EPS 1.07 0.19 3.63 0.22 -1.76
Dividends Per Share 0.19 0.09 0.80 0.06 0.10
Total Assets 387,442.33M 371,479.54M 414,858.75M 411,919.60M 369,764.34M
Total liabilities 155,177.61M 145,473.18M 150,533.71M 156,928.89M 137,654.31M
Total equity 232,264.72M 226,006.36M 264,325.04M 254,990.70M 231,927.70M
Operating cash flow 80,132.10M 33,383.29M 82,921.06M 53,581.33M 14,638.94M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 11,467.28M 8,901.77M 10,820.02M 9,264.83M 8,151.05M
Gross Profit 1,461.61M 803.14M 2,255.00M 884.68M 92.44M
Operating income 706.38M 198.85M 1,545.62M 160.35M -644.84M
Income before tax 461.21M 148.97M 1,599.67M 203.13M -544.52M
Net income 340.60M 58.00M 1,217.13M 73.71M -564.26M
EBITDA 2,393.03M 1,482.77M 2,648.53M 1,349.80M 490.77M
Diluted EPS 0.03 0.00 0.11 0.00 -0.05
Dividends Per Share 0.00 0.00 0.02 0.00 0.00
Total Assets 11,795.36M 11,526.25M 13,940.85M 13,401.42M 12,334.93M
Total liabilities 4,724.25M 4,513.73M 5,058.51M 5,105.53M 4,591.99M
Total equity 7,071.10M 7,012.51M 8,882.33M 8,295.88M 7,736.85M
Operating cash flow 2,523.52M 1,035.11M 2,725.63M 1,776.89M 473.55M

Valuation Measures

Dec 2019
Operating margin-7.91%
Profit margin-6.92%

Key executives

  • Chairman & Chief Executive Officer: Jim Hung
  • President, Chief Operating Officer & Director: Yang Chu-Hsiang
  • Head-Finance Department & Deputy Spokesman: Chien Lang Lo
  • Director & Executive Vice President: Chin Lung Ting
  • Vice President & General Manager-Mobile Product: Yang Hung-Wen


  • Hon Hai Precision Industry Co., Ltd. (3.3%)
  • The Vanguard Group, Inc. (3.0%)
  • Chi Mei Corp. (2.7%)
  • Foxconn Technology Co., Ltd. (2.5%)
  • BlackRock Fund Advisors (1.9%)
  • KUO TAI MING /HONHAI/ (1.4%)
  • Labor Pension New Fund (1.3%)
  • Norges Bank Investment Management (1.2%)
  • Dimensional Fund Advisors LP (1.2%)
  • Pan-International Industrial Corp. (0.9%)

Contact Details

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

Related Companies

  • Innolux Optoelectronics India Pvt Ltd.
  • Innolux USA, Inc.
  • Ningbo Innolux Technology Ltd.
  • Ningbo Chi Mei Optoelectronics Ltd.
  • Foshan Innolux Optoelectronics Ltd.
  • Shanghai Innolux Optoelectronics Ltd.
  • Yuan Chi Investment Co. Ltd. /Innolux/
  • Innolux Corp. /Tree Valley Branch/
  • Innolux Corp.- Fab Shanghai
  • Golden Achiever International Ltd.
  • Bright Information Holding Ltd.
  • Gold Union Investments Ltd.
  • Keyway Investment Management Ltd.
  • Chan Shen Science & Technology Investment Co. Ltd.
  • TPO Displays Sweden AB
  • Chi Mei Energy Corp.
  • Chi Mei Optoelectronics Europe BV
  • Chi Mei Optoelectronics Japan Co., Ltd.
  • Innolux Hong Kong Holding Ltd
  • Chun Yi Investment Co. Ltd. /Entire/
  • Leadtek Global Group Ltd.
  • Landmark International Ltd.
  • Chi Mei Optoelectronics (Singapore) Pte Ltd.
  • Innolux Holding Ltd.
  • Toppoly Optoelectronics (BVI) Ltd.


  • Au Optronics Corp.
  • BOE Technology Group Co., Ltd. Class B
  • TCL Technology Group Corporation Class A
  • LG Display Co., Ltd
  • Radiant Opto-Electronics Corp.
  • e-Litecom Co., Ltd
  • Global Lighting Technologies Inc.
  • INVENIA Co., Ltd.
  • Mildex Optical Inc.
  • VIA optronics AG Sponsored ADR
  • Visteon Corporation
Last Updated on 25 Nov, 2020

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends October 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to Nikkei Asia has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more