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Pixelplus offloads all shares in Taiwan subsidiary

Posted: 23 Oct 2007 ?? ?Print Version ?Bookmark and Share

Keywords:Taiwan subsidiary? shares sale? image sensors?

CMOS image sensor maker Pixelplus Co. Ltd has announced the sale of its entire 37.5 percent shareholding interest in its former Taiwan subsidiary, Pixelplus Technology Inc. (PTI).

The South Korean fabless firm saw a significant decline in revenues from PTI since the first half of 2006, prompting it to sell its entire interest in the subsidiary to better manage cost efficiencies and strengthen its financial position.

Pixelplus had opened a branch office in Taiwan earlier this year to fortify its sales and marketing operations. The company believes its current Taiwan facilities are adequate to meet the its requirements.

The plan to sell PTI was stated in Pixelplus' Form 20-F for the year ended Dec. 31, 2006, which was filed with the U.S. Securities and Exchange Commission on June 29, 2007.

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