In March, CMO (Chi Mei Corporation) and Innolux Co. plan to merge together with one goal in mind: become the world's second ranked leader in LCD panels. After a deal was made to merge together, they set a goal to beat out LG Display as second place in the LCD panel market by the third quarter of this year.
The merging of CMO and Innolux places them third in the world and leaders of Taiwan in LCD panels. Some of the Taiwanese media predicts that this company will overtake Korea's LG Displays by the third quarter of this year. Also, they predict that the company will have an estimated US$20 billion in sales with estimated profit of about US$672 million.
Next year's goal in sales is set at US$21 billion with net profit at US$1.1 billion. In the year 2012, they want to have US$23.25 billion and profits of US$1.5 billion. If they achieve these goals, they believe they can intimidate Korea's top ranked LCD panel businesses and perhaps raise competition.
Last year, CMO was suffering serious financial problems, so the merging with Innolux is a revival for their company.