TAINAN, Taiwan, Oct. 12, 2007 (PRIME NEWSWIRE) -- Himax Technologies, Inc. ("Himax" or "Company") (Nasdaq:HIMX) today announced plans to spin-off its LCD TV and monitor chipset operation into Himax Media Solutions, Inc., a wholly-owned subsidiary to be set up shortly. The newly formed Himax Media Solutions, Inc. will focus on expanding market share in the global LCD TV and monitor chipset market opportunity.
Jordan Wu, President and Chief Executive Office of Himax and newly appointed Chairman of Himax Media Solutions, Inc., commented, "The new structure will allow us to better focus our research and development resources for the global LCD TV and monitor chipset market opportunity. We have identified certain strategic investors and have planned to invite them to partner with us in the future. Himax has a good working relationship with these partners, and has already designed into several of their LCD TV and monitor projects. We believe this new company will be even more competitive in the LCD TV and monitor chipset market."
About Himax Technologies, Inc.
Himax Technologies, Inc. designs, develops, and markets semiconductors that are critical components of flat panel displays. The Company's principal products are display drivers for large-sized TFT-LCD panels, which are used in desktop monitors, notebook computers and televisions, and display drivers for small- and medium-sized TFT-LCD panels, which are used in mobile handsets and consumer electronics products such as digital cameras, mobile gaming devices and car navigation displays. In addition, the Company is expanding its product offering to include LCD TV chipset solutions and LCOS microdisplays. Based in Tainan, Taiwan, the Company has regional offices in Hsinchu and Taipei, Taiwan; Suzhou and Shenzhen, China; Yokohama, Japan and Anyangsi Kyungkido, South Korea.
Forward-Looking Statements:
Certain statements in this press release, including statements regarding expected future financial results and industry growth, are forward-looking statements that involve a number of risks and uncertainties that could cause actual events or results to differ materially from those described in this press release. Factors that could cause actual results to differ include general business and economic conditions and the state of the semiconductor industry; level of competition; demand for end-use applications products; reliance on a small group of principal customers; continued success in technological innovations; development of alternative flat panel display technologies; ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; shortages in supply of key components; changes in environmental laws and regulations; exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; and other risks described from time to time in the Company's SEC filings, including its Form 20-F dated June 22, 2007, as amended. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.