Chimei has announced cooperation with Foxconn Electronics' (Hon Hai Precision Industry's) channel retailers to develop the China market and is aiming for revenues from overseas markets to reach 30% of total revenues in 2011, according to Chimei VP of brand development Cheng Liang-Bin.

Cheng indicated that Chimei's goal in 2011 is to remain in the top position in Taiwan in terms of brand market share, 30% growth for overall revenues to NT$6 billion (US$199.33 million), and an over 30% revenue share from overseas markets, which is equivalent to NT$1.8 billion. Chimei aims to ship 800,000 LCD monitors in 2011, and oversea markets will account for 540,000 units, Cheng noted.

The LCD monitor market in China in 2010 is expected to reach 30 million, and LED-backlit models are expected to account for 25% of the market at the end of the year due to surging demand. Chimei expects to gain market share in China's LED-backlit monitor market through its cooperation with Foxconn's channel network, as well as its through its product advantages and brand name, and Chimei expects to expand its LCD TV business to China and other countries in Asia in 2012.

In addition to the cooperation with channels, Cheng added that Chimei sold its TV assembly plant in Tainan, Taiwan half a year ago to Chimei Innolux (CMI), and Chimei's current OEM partners for LCD monitors include CMI and TPV Technology, while CMI manufactures all LCD TVs for Chimei. Chimei will focus on marketing, customer service, and brand business in the future.

Chimei will focus on setting up channels and building a reputation for its brand in the first year in China, and hence aims to ship 300,000 units. It expects shipments to double to 600,000 in the second year and aims to rank top-ten in China in the third year with shipments of over 1.2 million units.

Chimei VP of brand development Cheng Liang-Bin
Photo: Siu Han, Digitimes, December 2010