Seoul Semiconductor claims to be the only Korean company to maintain revenue growth despite intensifying competition between Chinese LED manufacturers. For the lighting division, while the differentiated product such as Wicop and Acrich increased in great proportion, automotive exterior lamps, e.g. daytime running lights and headlights continued their fast-paced growth. Automotive lighting is an area of high entry barriers due to high technology requirements and intellectual properties. Seoul expects to gain further market share with its differentiated Wicop technology. For the IT division, current customers expanding their product line-ups and new customer acquisitions were the main drivers for the rising sales figures.
The company says it has sufficient cash generation capabilities since it has booked above 20% gains in EBITDA, leaving sufficient funds available for future investments. The company has provided revenue guidance of KRW 260 to 280 billion for the third quarter.
Seoul Semiconductor - www.seoulsemicon.com