ITM Semiconductor "Confident in Strong Performance Driven by High Growth in Secondary Battery Protection Circuits and Electronic Cigarette Business"

ITM Semiconductor (CEO Nah Hyuk-hwi) is confident in achieving record-high performance in the second half of this year, driven by the recovery of the upstream industry in the secondary battery protection circuit sector and the high growth of the electronic cigarette business. The company has also designated the robotics field as a future new business and is preparing a sustainable growth roadmap.

Nah Hyuk-hwi, CEO of ITM Semiconductor, stated on the 3rd, “Our two strategic core businesses, protection circuits and electronic cigarettes, are showing stable recovery and growth respectively, so we expect strong performance in the second half of the year. As a result of proactively securing technology in the promising robotics field, we are mass-producing and supplying key drive components for autonomous mobile robots, which have reached the level of being applied to the final customer’s products.”

The core business of ITM Semiconductor is small secondary battery protection circuits, with sales generated from the global smartphone market. The smartphone market, somewhat sluggish due to the recent economic downturn and weakened consumer sentiment, tends to have clear seasonality in sales. With new product launches and various seasonal events scheduled for the second half of this year, a recovery trend is anticipated.

In particular, ITM Semiconductor expects significant sales growth compared to the first half of the year, as it has established development and mass production systems a year in advance in line with the launch of new models by key customers in the North American region. Additionally, the development of parts to be applied to models scheduled for release next year has already been finalized, and this sector is expected to achieve stable growth in the mid to long term.

The electronic cigarette business segment, which started last year, is even more encouraging. The electronic cigarette business mass-produces two models, ‘Lil Hybrid Easy’ and ‘Hybrid Liquid Cartridge,’ supplying them to KT&G, and has been expanding sales volume through global exports this year. In particular, the hybrid liquid cartridge has established facilities capable of producing 300 million units annually and is recognized for its high production yield and competitive cost structure, establishing itself as a strategic business.

A company representative emphasized, “Based on overwhelming technological capabilities compared to competitors, ITM Semiconductor has additionally secured orders for the next new electronic cigarette device models from key customers and plans to start mass production from the second half of this year. Through continuous investment and research and development, we will establish ourselves as a leading company in the electronic cigarette market.”