HSINCHU, Taiwan, August 31, 2011 /PRNewswire-Asia-FirstCall/ -- AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) today announced its new organizational arrangement. Due to the transformation of the global display market and the emergence of new products and applications, Display Business Operation led by Paul Peng will be divided into three business groups, namely Video Solutions, Mobile Solutions, and Touch Solutions. Integrated total solutions will be offered for clients and end customers to enjoy customized value-added services. Executive Strategic Planning Division will also be established to help visualize the future of the Company from a macro perspective. The new organization will become effective from September 1, 2011.
The new organization has Display Business Operation divided into three pivotal sections with their own production, research & development, and sales & marketing functions. Dedicated solutions are proposed respectively for video display (with applications to LCD TVs, desktop monitors, etc.), mobile display (with applications to smartphones, car displays, notebooks, tablet PCs, etc.), and touch panel products. Value-added services that integrate hardware, software and interface are in turn provided to customers, in line with market demand. The core business groups will all fully grasp the industry's pulse and introduce new technologies hoping that highly efficient, focused and differentiated services will be offered in product marketing, customer service, technological platform, and production & sales coordination. The Video Solutions Business Group will be led by Vice President Michael Tsai, Mobile Solutions Business Group by Vice President T.K. Wu, and Touch Solutions Business Group by Vice President Fred Hsieh. In view of the ongoing "coopetition" in a rapidly changing global marketplace and to address myriads of future interactive applications, Executive Strategic Planning Division will be established to develop long-term strategies for the future. It will be headed by Vice President Frank Ko.
AUO hopes to further enhance its operational efficiency through organizational reconfiguration. It is also the Company's belief that job rotation is a key for a company to thrive over time. While expanding and venturing into the ever-changing global market, AUO will devote its efforts to enhancing product and technological competitiveness to maximize benefits for all its shareholders.
ABOUT AU OPTRONICS
AU Optronics Corp. (AUO) is a global leader of thin film transistor liquid crystal display panels (TFT-LCD). AUO is able to provide customers with a full range of panel sizes and comprehensive applications, offering TFT-LCD panels in sizes ranging from 1.2 inches to greater than 71 inches. AUO generated NT$467.2 billion in sales revenue in 2010 (US$16 billion) with global operations in Taiwan, Mainland China, Japan, Singapore, South Korea, the U.S., and Europe. Additionally, AUO is the first pure TFT-LCD manufacturer to be successfully listed at the New York Stock Exchange (NYSE). AUO extended its market to the green energy industry in late 2008. The Display and Solar businesses were established respectively as the Company's two core businesses in October, 2010. For more information, please visit AUO.com.
* 2010 year end revenue converted at an exchange rate of NTD29.14:USD1.
Safe Harbour Notice
AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO), a global leader of TFT-LCD panels, today announced the above news. Except for statements in respect of historical matters, the statements contained in this Release are "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These forward-looking statements were based on our management's expectations, projections and beliefs at the time regarding matters including, among other things, future revenues and costs, financial performance, technology changes, capacity, utilization rates, yields, process and geographical diversification, future expansion plans and business strategy. Such forward looking statements are subject to a number of known and unknown risks and uncertainties that can cause actual results to differ materially from those expressed or implied by such statements, including risks related to the flat panel display industry, the TFT-LCD market, acceptance of and demand for our products, technological and development risks, competitive factors, and other risks described in the section entitled "Risk Factors" in our Form 20-F filed with the United States Securities and Exchange Commission on May 3rd, 2011.
