[Asia Economy Reporter Yoo Hyun-seok] CoAsia, a company specializing in system semiconductor design solutions, announced on the 13th that it recorded consolidated sales of 112.8 billion KRW and an operating profit of 2.7 billion KRW in the first quarter. Sales increased by 11% compared to the same period last year, and operating profit turned positive. Net profit also turned positive to 2.9 billion KRW during the same period, achieving the highest performance for the first quarter in the past three years.
The overall strong performance of the IT components division (LED, audio components, camera modules) drove the growth in results and the turnaround to profitability. The system semiconductor division showed a strong start by achieving more than half of last year’s total sales in the first quarter alone.
The company stated, “We expect continuous performance growth in the IT components division this year due to the expansion of eco-friendly automotive LED supply in the LED business division, diversification of supply channels to the three major smartphone manufacturers in China in the audio components division, and the expansion of multi-camera supply for front and rear Samsung Galaxy models in the camera module division.”
It added, “Along with the growth in NRE (system semiconductor direct design) sales in the system semiconductor division, the start of mass production (Turn-key) sales from the second half of this year marks the starting point for the system semiconductor division’s performance to enter the main track.”
CoAsia plans to further strengthen its leadership in the system semiconductor design field through the extensive sales capabilities of its Taiwanese subsidiary CoAsia Electronics (CoAsia Elec.) in the U.S. and China, and the differentiated technology of CoAsia NEXELL, an official partner of Samsung Electronics Exynos.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
