Genesis Photonics Inc. Denies Rumors of Declaring Bankruptcy

by San Antonio Attorney

The downturn of LED or light-emitting diode market incurred net losses for many companies, including Taiwanese LED die maker Genesis Photonics Inc.  (GPI), raising speculations that it is on the verge of bankruptcy.

GPI suffered a net loss of more than $11 million in the third quarter of 2016, because of fierce pricing competition in the LED market segment.

But GPI pointed out that the company’s finances and operations were not affected.

The company’s primary LED technology available on the market are CSP LEDs and flip chip LED, which gained numerous major patents in other countries like Taiwan, China, Japan and United States.  GPI is a leading manufacturer in the global CSP LED and flip chip LED sector.

GPI develops technology utilized in TV backlight as well as ultrathin CRI, automotive lights and mobile phone flashlights.

Bankruptcy can help a business or individual to get back on their feet financially.  Though it is considered as a last resort, waiting to file for bankruptcy until you are totally broke can in fact be disadvantageous to you.  Without any funds, it will be difficult to go through the bankruptcy process.

Even though you can file for bankruptcy on your own, a lot of people choose to hire a Debt Relief Attorney.

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