Seoul Semiconductor Achieves Record Quarterly Revenue and Aims for Record Earnings in Fiscal Year 2018

  • Reported third quarter revenues of KrW 305 billion and an operating profit of KrW 30.6 billion increase 14 % quarter-over-quarter and 24 % year-over-year respectively as a result of rising sales across all business divisions

  • The increased revenue and profit are attributable to its portfolio of differentiated technologies and patents, which are gaining global wide recognition from its custom

Seoul Semiconductor yesterday announced consolidated third-quarter revenues of KrW 305 billion.

(Image: The Korea Herald)

The rise in consolidated revenue was a result of strong sales of its differentiated technologies Acrich MJT, Wicop, UCD and filament LED. Within the lighting division, more than one-third of its customers have already shifted to adopt Acrich MJT, which is expected to account for over 50 % of sales in general lighting next year. Filament LEDs are rapidly becoming popular in the decorative lighting market, where they are replacing conventional LEDs.

(Image: Seoul Semiconductor)

Sales grew in the Display segment due to strong adoption of Acrich, enabling optimal local dimming in premium UHD TVs (Ultra-High Definition Televisions), and UCD that brings exceptional color rendering to displays.

The package-free LED Wicop, featuring greatly enhanced brightness and enabling slim displays, already accounts for double-digit overall sales. The application of Wicop has gone beyond automotive daytime running lights (DRLs) and is now being used in automotive headlamps. In addition to rising sales of its differentiated products, the over 30 %+ year-over-year rise in automotive lighting sales in the third quarter proved highly profitable for the company.

The company’s third quarter operating profit of KrW 30.6 billion marks a remarkable growth of 27 % quarter-over-quarter and 54 % year-over-year despite a continued decline of the average selling price (ASP). Sales of high-end products due to their differentiated technologies and the company’s continued cost and process innovations have greatly contributed to improving bottom line figures. Seoul expects its new factory in Vietnam and the implementation of smart factory systems to further strengthen cost innovations for the future.

Company outlook

The company forecasts revenue guidance of KrW 270 to 290 billion for the fourth quarter. This figure is relatively high considering the exceptional third quarter results and the fact that the fourth quarter is typically off-season for LED manufacturers.

The company’s Chief Financial Officer Sangbum Kim stated that SunLike, a new LED technology which produces light closely matches the spectrum of natural sunlight which was launched at a press conference in Frankfurt, Germany in June, has been very well received with great interest from customers around the world.

The company’s previously launched LED drivers, which integrate invertors into chips, will continue to advance future sales and profit growth.

Kim also stated that the company plans to keep its focus on protecting its customers by continuing to develop differentiated technology and secure intellectual property.

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