On the 20th, IBK Investment & Securities stated that Haink Korea generates more than half of its sales from products and goods for Samsung Electronics, but is attempting to diversify its client base through the merger with its former subsidiary, BNT International.
Additionally, the company is expanding into the previously sluggish B2C (business-to-consumer) sector by securing its own online mall, NEMAME, and other online sales channels.
Haink Korea is a manufacturer of accessories for IT devices such as covers, wireless chargers, and earphone cases. Its main products include cases equipped with NCF functionality and accessories applying intellectual property (IP) from global brands.
Geonjae Lee, a researcher at IBK Investment & Securities, explained, "The strength lies in applying external brand IP to accessory products to produce design items that align with trends," adding, "In the mobile market, design competitiveness is more important compared to other IT devices, so IP play enables responding to the demand of younger consumers."
He continued, "Representative IPs applied include Disney, Tottenham, Smurfs, and Nongshim," and said, "The high popularity of the Galaxy Buds Pro case, which borrowed Samsung Electronics' Anycall design, once again proved the strength of IP design products."
However, although the company has entered the mobile kiosk market to secure new growth engines, it is analyzed that it will take time to generate meaningful performance. The researcher stated, "Since the launch of the mobile kiosk service Baroda in 2021, the growth of the tablet-type table order market and the slowdown in growth due to the end of the pandemic have combined to make sales visibility difficult," adding, "With the change of the largest shareholder to the KOSDAQ-listed company Experix through a stock transfer agreement last September, the possibility of revising management strategies for the new business sector is expected to act as a variable."
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