Taipei, Saturday, Sep 23, 2017, 13:57

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Compal Announces NT$3.089 Investment in China's LeTV

By Korbin Lan
Published: Mar 29,2017

TAIPEI, Taiwan - Taiwanese OEM service provider Compal Electronics, INC. yesterday announced an investment in Leshi Zhixin Electronic Technology (Tianjin) Co., Ltd. (LeTV Zhixin) which was a transaction of NT$3.089 billion for a 2.15% holding. This is the first time that a Taiwanese electronics OEM manufacturer has invested in a brand-name Mainland Chinese consumer electronics manufacturer.

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Compal was originally LeTV's primary OEM manufacturer; however, due to of LeTV's cash flow problems last year, they owed huge sums of money on debts to Compal. However, after the capital problems were solved, LeTV's debt turmoil seemed to have come to a close.

Although LeTV's future prospects remain to be seen, Compal emphasized that purchasing the stake in LeTV is an investment rather than a financial consideration, and they are optimistic about the development of the Chinese cloud and network application markets.

(TR/ Phil Sweeney)

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