Chi Mei to delay Vietnam project
(08-12 11:23)
Chi Mei Optoelectronics, Taiwan's second-biggest maker of liquid-crystal displays, said it will delay an investment in Vietnam indefinitely because of faster inflation and slowing demand for LCD monitors and televisions.
Chi Mei had planned to build a factory to assemble LCD modules in Hanoi in 2010, Denis Chen, said director of finance and accounting at Tainan-based Chi Mei.
Vietnam's annual inflation quickened to 27 percent in July, the fastest pace since at least 1992.
Chi Mei joined companies including Sony, the world's second-largest television maker, in delaying or pulling out of investment in Vietnam. The Taiwanese company said last month it will lower its LCD output by 15 percent in the current quarter from the second after oversupply drove down prices.
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