[Asia Economy Reporter Hyunseok Yoo] CoreAsia Optics, a specialized optical lens company, announced on the 17th that it recorded consolidated sales of 20.9 billion KRW and operating profit of 700 million KRW in the first quarter. Sales increased by 51% compared to the same period last year, and operating profit turned positive. Net profit for the same period reached 2.7 billion KRW.
The company explained, "This is the result of the base effect from last year's COVID-19 impact along with an increased proportion of high-resolution products with higher profitability."
According to the smartphone industry, global smartphone shipments in March reached 140 million units, an increase of about 44% compared to the previous year. Samsung Electronics' first-quarter smartphone shipments reached 77 million units, reportedly recovering to the usual pre-COVID-19 first-quarter level.
Internal structural improvements within the company also drove performance growth. Along with management efficiency, the company is expanding the proportion of high-resolution lenses to maximize profitability. In particular, this year is expected to be the first year when the proportion of high-resolution products of 8M (megapixels) or higher surpasses that of low-resolution lenses of 5M or less.
A CoreAsia Optics representative stated, "We will expand profitability through yield improvement and increasing the proportion of high-resolution products," adding, "We also plan to maximize synergy effects with the CoreAsia Group, which operates the camera module business."
He continued, "We will do our best to achieve positive results at the corporate review committee scheduled to be held within this month," and said, "From a long-term perspective, we will actively pursue ways to enhance both corporate value and shareholder value together."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
