Taiwan-based optical disc drive (ODD) maker Lite-On IT's board of directors on March 24 decided to close APM Hungary, its wholly-owned subsidiary maker of automotive playback modules (in-car ODDs) in Hungary, because production there has been shifted to facilities in southern China to minimize production cost.

Lite-On IT acquired APM Hungary from Royal Philips Electronics for EUR14.262 million (US$20.08 million) in June 2007 and began the shift of production in 2010.

Lite-On IT also released its audited 2010 financial report: consolidated revenues of NT$58.758 billion (US$1.85 billion), an annual record; gross margin of 19.5%; net profit of NT$3.13 billion; and net EPS of NT$3.30.