LG InnoTek will purchase PCBs for automotive LEDs from Terranix, a subsidiary of Young Poong Group, the world's top ten adjustable DC power supply PCB manufacturer, for use in its automotive lighting brand Nexlide products.
According to the data, Terranix mainly produces PCBs for automotive parts and LEDs, with special adjustable DC power supply PCBs and multilayer boards (Multi-layer adjustable DC power supply PCBs; MLB) as its main products. Last year, Terranix achieved revenue of 78.5 billion won and a net loss of 200 million won.
Terranix was previously a supplier of LG InnoTek, but since LG InnoTek began restructuring its LED business in October 2019, Terranix has lost orders from LG InnoTek. This transaction means that Terranix has the opportunity to expand its cooperation with LG InnoTek.
It is reported that the current PCB suppliers of LG InnoTek automotive LEDs are mainly from China. The company is trying to diversify the automotive LED supply chain to reduce its dependence on Chinese manufacturers. This cooperation with Korean manufacturer Terranix is also Prove this.
Due to the large development potential and room for growth, the automotive lighting market has become one of the goals of global LED-related manufacturers. Even if LG InnoTek divested most of its LED business, it still retains the automotive LED segment, and uses the automotive lighting solutions business as a new name to accelerate the expansion of the global automotive lighting business.
In the past two years, LG InnoTek has continuously introduced new Nexlide LED module products, which have improved product performance such as brightness and uniformity. At present, Nexlide LED automotive lighting modules have been widely used in more than 60 car models around the world. At this stage, LG InnoTek is actively promoting cooperation with automakers, striving to increase the number of orders from global automakers such as Japan, South Korea, Europe and the United States.