Flat-panel makers to double production in three years to NT$1.9 trillion value

The nation's flat-panel screen industry, which is competing with South Korea's to be the world's largest, will double production to about NT$1.9 trillion (US$58 billion) in three years, Minister of Economics Affairs Ho Mei-yueh (何美玥) said.

"The flat-panel industry has provided the major momentum in seeking for continuous growth in Taiwan's economy," Ho said at a seminar before executives of flat-panel makers Thursday night. "Our flat-panel display industry just became the world's leader this year, and we expect the output to double in three years with annual compound growth of about 30 percent," she said.

The nation's flat-panel screen makers posted a production value of about NT$950 billion this year, worth about 40 percent of the global market, the ministry's Industrial Development Bureau said in a statement released at the seminar.

The nation's flat-panel screen makers had a 1 percent share of the global market six years ago, the statement said.

In the next three years, Taiwan's panel and peripherals makers will invest more than NT$900 billion, including NT$700 billion by panel makers such as AU Optronics Corp (友達光電) and Chi Mei Optoelectronics Corp (奇美電子), and NT$200 billion by peripherals makers such as Corning Inc, the statement said.