Taiwan-based LED auto lamp modules and components manufacturer EOI (Excellence Optoelectronics Inc) has reported high profit margin for 1H18 which was pushed by the strong demands of LED automotive lamps in the North American market.
(Image: EOI)
The revenue of EOI in the first half of 2018 came to NT$ 1.66 billion (US$ 53.93 million) with an increase of 34.53% YoY. The profit margin was 20.1% and the after tax net profit for 1H18 has exceeded the total number of last year.
The rising penetration rate of LED automotive lighting and the increasing LED auto lamp applications for autonomous vehicles have boosted demands for related products, leading to EOI’s robust growth. According to Fanny Huang, Chairman and President of EOI, the orders for LED auto lamps and components have been placed until 2021.
North America is the biggest market for EOI, accounting for 76% of the company’s revenue in 2017. In response to the rapid growth in North America, EOI has expanded its capacities in Michigan with automated production lines and a design department. The expansion allows the company to cut down transportation cost and to provide services to its clients in North America; moreover, it will enjoy favorable tax policy for its production in the U.S.
Beside continuous supply of LED products and components to its clients, who are mostly leading automotive lighting manufacturers, EOI will also deepen its technology development for LED headlamps and Mini LED displays for automotive applications, indicated Huang.
