Lite-On Group announced last week it had won a five-year contract to supply 140,000 LED traffic lights to the California State government, according to an article on Taiwan Economic Times.
Lite-On subsidiary Leotek Electronics Corp will be the primary supplier of the lights, the report said. Leotek ships an annual 350,000 LED lamps to the global market of traffic lights. And Lite-On aims to push Leotek's current 30% market share in the US traffic light market to 50% some time next year.
Lite-On estimates its revenue from LED-lighting at NT$4 billion (US$121 million) for 2009, NT$8 billion (US$242 million) for next year and NT$16 billion (US$484 million) in 2011, according to the report. And auto lamps will become the company's next revenue driver over the next two years, the company executives pointed out, as it had become a part of the supply chains in Europe, the United States and Japan.
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