LED supplier Leyard Optoelectronic and display producer MIC enter into cooperation agreement
Shenzhen, China -- The world's leading supplier of LED products and solutions, Leyard Optoelectronic Co., LTD. (stock code: 300296), which is the domestic LED industry leading brand, decided to combine with MIC, which is the largest producer of LED display in India and the only listed company of LED display. In recent years, the Indian government has developed the LED industry to a national strategy, so Leyard & MIC strategic cooperation is expected to get the government's support and encouragement and it means Leyard's international strategy has made a significant progress. The contract was formally signed on April 10 at Leyard's booth of InfoComm China 2013 that is the largest and the most influential event of professional audio-visual and integrated system industry in Asia in the Beijing National Convention Center.
The contract mainly consists of three parts. First of all, Leyard will authorize MIC as the sole general agent in India and MIC shall be solely responsible for the promotion and sales of Leyard products in India market. The first year sales of Leyard products is expected to be about 10 million dollars. The two sides agree that if the market reaches a certain scale, a joint venture that is responsible for the assembly and manufacturing of LED application products will be set up to achieve a rapid growth each year. Secondly, MIC will authorize Leyard to develop and sale LED solar lighting products and related software products and at the same time the two side will together develop and manufacture products of LED 3D display technology and content creation. At last, in the future Leyard & MIC plan to invite the international well-known companies in chip industry to invest in the manufacturing and sales of LED industry chain products, in order to meet the future gradually expanded demand of LED lighting and display products in Indian and South Asian regions and the total investment is expected to be over tens of million of dollars.
The Leyard & MIC strategic cooperation signing ceremony became one of the biggest highlights of InfoComm China 2013 and attracted an endless of interviews by domestic well-known media like ZOLCOMCN, NetEase, China Electronics News and so on and soon relative news were published on the newspapers and websites. This international cooperation shocked the whole domestic LED industry and showed Leyard's significant breakthrough in exploring international market.
Mike Tang Leyard Optoelectronic Co., LTD.