Seoul Semiconductor Achieves Historical High First Quarter Revenues Increased by 28.3% YoY

  • Continued to record over KRW 300 billion for three consecutive
  • Recorded the highest first quarter consolidated revenue at KRW 312 billion
  • Expected to grow by another double-digit in the second quarter
  • Secured a foundation for sustainable growth with leading 2nd generation patented LED technologies
  • Company will report details of the first quarter earnings and a sales guidance for the second quarter at the end of April

 

ANSAN, South Korea (April 7, 2021) – Seoul Semiconductor Co., Ltd. (“Seoul”) (KOSDAQ 046890), a leading global LED product and technology provider, today announced KRW 312 billion of consolidated revenues for the first quarter, growing 28.3% year on year. Recovering from COVID-19 pandemic impact in the first half last year, Seoul continued to record over KRW 300 billion quarterly revenues for the past three consecutive quarters, which has achieved the historical highest first quarter of 2021 revenues since the company establishment.

Despite the low seasonality in the LED industry, Seoul’s strong performance in the first quarter will lead to a higher expectation for financial results of the fiscal year 2021. The financial results including revenues and profit analysis will be released at the end of April.

“Manufacturing transition to Vietnam, which has been started from 2017, entered the stabilization stage. Seoul expects further profitability for the year by delivering superior cost advantage and pricing competitiveness. We also expect exceptional revenue growth in the 2nd half as mass production of mini LEDs, one of the core next generation display technologies, starts,” said an officer at Seoul.

Seoul’s mini LED uses package-less WICOP products, the world’s first revolutionary technology directly mounting LED chips onto a substrate.

 

Source: Seoul Semiconductor

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