Seoul Semiconductor’s annual revenue hits record $1.04bn

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1 February 2018

Seoul Semiconductor’s annual revenue hits record $1.04bn

For full-year 2017, South Korean LED maker Seoul Semiconductor Co Ltd has reported revenue of $1.04bn, up 16% (far exceeding the industry average of just 2%) due to both general lighting sales and IT product-related sales growing in the mid-teens, as well as the automotive lighting business growing by more than 20%. This was a result of the firm’s efforts to stay ahead of the competition by continually investing in R&D as well as strengthening its global sales organization, believes chief financial officer Sangbum Kim.

The growth for general lighting was due largely to an increase in sales of 220V and 370V Acrich MJT products for household and industrial applications. Other notable revenue increases were reported for the WICOP line of packageless LEDs, as well as for the Acrich NanoDriver, which incorporates step drive methods that achieve results said to be greater than those of conventional SMPS technology.

Operating profit of $92m, up 71% as a result of rising sales across all business divisions.

For first-quarter 2018, Seoul Semiconductor expects revenue of KrW270-290bn, up 5-13% year-on-year, despite the first quarter normally being considered to be an off-season. The firm hence has a positive outlook for full-year growth in 2018.

To accelerate revenue growth further into the double-digit range for 2018, the firm plans to drive sales of differentiated products such as its SunLike natural-spectrum LED technology while also shifting focus more to its rapidly growing automotive lighting business.

Tags: Seoul Semiconductor LEDs

Visit: www.SeoulSemicon.com