GoerTek to Invest USD 100M in Micro LED Company Plessey

GoerTek Inc. announced that, in order to promote the maturity of Micro LED–related technologies and products and to support the future development of its AI smart glasses and AR (augmented reality) business, its controlling subsidiary, GoerTek (Hong Kong) Co., Ltd., plans to provide a five-year interest-bearing loan with equity return rights of up to USD 100 million to UK-based Haylo using its own funds.

Haylo will use the loan to acquire 100% equity of Plessey Semiconductors Limited and to inject additional capital into Plessey. The funds will be used for Plessey’s purchase of Micro LED–related fixed assets and for supplementary working capital.

Plessey, founded in 2000, specializes in developing ultra–high-resolution Micro LED displays for AR and VR devices. The company has collaborated with AR glasses maker Vuzix and tech giant Meta to jointly develop AR/VR microdisplay technologies.

In January this year, Plessey and Meta released their latest research results — the world’s brightest red Micro LED display, capable of delivering up to 6,000,000 nits of brightness at high resolution (<5 microns).

In fiscal year 2025, Plessey recorded revenue of approximately USD 72.72 million and a net profit of about USD 2.8 million.

As a well-known Chinese manufacturer of precision acoustic, optical, and other components and smart hardware, GoerTek has long supplied products to major international brands like Apple and Meta. To reduce reliance on key clients, the company has been actively developing its smart hardware business focused on VR/AR headsets and smart game consoles, aiming to transform into a leading VR/AR contract manufacturer and create new growth drivers. In the first half of 2022, smart hardware became GoerTek’s largest business segment, driving its overall gross profit margin.