[Asia Economy Reporter Hyungsoo Park] Genitics, the global market leader in wearable touch ICs, is showing strong performance. This appears to be influenced by expectations that Samsung Electronics will aggressively target the smartwatch market.
At 9:57 a.m. on the 17th, Genitics was trading at 3,245 won, up 7.1% from the previous day.
Last year, Apple dominated the smartwatch market. Apple held about half of the market share, while Samsung Electronics, in second place, is trailing with a share in the 20% range.
According to industry sources, Samsung Electronics plans to aggressively target the smartwatch market by segmenting models based on features and design.
In the second half of last year, Samsung Electronics consecutively introduced various Galaxy Watch Active models. These included the 'Galaxy Watch Active2 LTE,' which offers health management through exercise, stress, and sleep tracking; the 'Under Armour Edition' for running enthusiasts; and the 'Galaxy Watch Active2 Bluetooth.' This year, Samsung plans to add new lineups to the existing Galaxy Watch series.
Samsung Electronics is putting considerable effort into securing a leading position in the wearable market. Kim Hyun-seok, President and CEO of Samsung Electronics (CE Division), who delivered the keynote speech at CES 2020 held in Las Vegas, defined the next decade as the 'Era of Experience.'
Samsung demonstrated a user wearing 'GEMS' (a wearable walking-assist robot) using 'AR Glasses' to receive customized fitness training from a virtual personal trainer.
Genitics announced that it appointed former Samsung Electronics Wireless Business Division Purchasing Team Executive Director Ho Kyung-geun as its new CEO. He will be appointed as an inside director at the regular shareholders' meeting in March and subsequently appointed as co-CEO through a board resolution.
Genitics has maintained its position as the global market leader in wearable touch ICs by focusing on supplying dedicated touch ICs for wearable devices and successfully targeting the Chinese market.
According to quarterly reports, Samsung Electronics, a smartphone manufacturer, adopted the MST method for its Samsung Pay, and Genitics' MST IC products have been actively used in Samsung smartphones since 2016.
DC-DC is an OLED PMIC product applied to smartwatches and wearable products and is currently in mass production. It is a product certified by display companies and is widely sold to numerous wearable manufacturers. Collaboration is underway with display companies to apply this product to Samsung Electronics wearable devices.
To meet customer requests, products for smartphones and foldable devices are also being prepared. The company is also engaged in the wired and wireless ear microphone module business for smartphones and accessories.
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