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Biz News Korea(Eng)
LG Innotek seeks revival in LED market with UV LED light
- Collected
- 2017.10.23
- Distributed
- 2017.10.24
- Source
- Go Direct
LG Innotek unveiled nearly 30 varieties of its high-value added UV LED products at LED Japan 2017, Japan’s largest tradeshow for specialized LED products held in Japan early October. The Korean manufacturer was one of the tradeshow’s about 300 corporate participants presenting advanced LED solutions in the country, home to Japanese makers leading the global LED market.
At the LED Japan 2017, LG Innotek showcased its new UV LED products that require more advanced technology to develop than general LED lights. LG Innotek once took a sizable share in the LED lighting market, but it was elbowed out by Chinese peers armed with cheap LED lights. UV light has shorter wavelengths than visible light, and demand for UV LED is rapidly growing as it can be widely applied to commercial, industrial, and healthcare settings such as hygiene and disinfection control.
The global UV LED market has grown sharply, doubling to $270 million this year from $130 million in 2015, and it is expected to reach $526 million by 2020, according to market researcher Yole Development.
At 2:07 p.m. on Monday, shares of Innotek were up 5.71 percent at 166,500 won ($147.29).
By Song Sung-hoon and Cho Jeehyun
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