[Special Stock] SensorView Expects Probe Card Mass Production Led by Qualcomm mmWave Exclusive Supply 'Technology'

SensorView is showing strength. The analysis that its performance will gradually improve as it expands its business area into the semiconductor field appears to be influencing the stock price.

As of 9:56 a.m. on the 29th, SensorView is trading at 4,025 won, up 7.76% from the previous day.

The Korea IR Council analyzed that SensorView is expanding its product lineup into the semiconductor business. Representative products include cables for semiconductor equipment, interface cables, and probe card IC sockets/needle assemblies.

Researcher Lee Saerom of the Korea IR Council explained, "The products currently supplied are cables for semiconductor ATE test equipment," adding, "ATE (Automatic Test Equipment) test equipment is used to verify the functions and performance of semiconductor devices during wafer testing and final testing stages."

He continued, "These are manufactured by foreign equipment companies such as T, A, N, and X," and added, "SensorView's ATE test equipment cables are compatible with semiconductor automation test equipment from the U.S. and Japan, and since the third quarter of 2023, they have been supplied to domestic semiconductor company S, replacing existing German products."

He stated, "These cables are supplied through equipment companies that are first-tier vendors of company S," and "It is estimated that they are ultimately used in the memory semiconductor testing of company S."

The researcher said, "We have completed the development of interface cables applied in the semiconductor post-process testing stage and are currently pursuing vendor registration with semiconductor manufacturers," adding, "SensorView's high-frequency signal processing technology is expected to stand out in accurately transmitting and measuring signals in the 6G and millimeter wave (mmWave) bands."

Furthermore, he analyzed, "We are developing probe cards in cooperation with domestic non-memory test service companies," and "Non-memory companies, including company T, have been supplied probe cards from global companies, but they are understood to be jointly developing with SensorView to reduce import dependence." He added, "With the increase in semiconductor demand and the advancement of multi-chip packaging technology, the demand for high-performance probe cards capable of testing these is increasing," emphasizing, "For high-speed communication, semiconductor devices require accurate operation at increasingly higher frequency bands." He predicted, "Probe cards and other test equipment that test these devices must also be designed to match high-frequency characteristics," and "mmWave solutions will contribute to precise testing and reliability improvement of semiconductor devices." SensorView aims to commercialize probe cards by the end of this year.

Researcher Lee introduced that SensorView possesses global top-tier technology in mmWave cables and ultra-small transmission line product lines based on nano-material extrusion processing, shielding process technology, and precision design capabilities. They have secured connector EM design capabilities covering up to 110GHz. SensorView was selected as the exclusive supplier of ultra-small transmission lines for Qualcomm’s 39GHz mmWave small cell modules, which lead the 5G ecosystem. Qualcomm leads the MCP (Multi-Chip Package) paradigm that integrates multiple semiconductor chips into one package, and MCP plays a key role in building mmWave small cells.

The researcher said, "As the mmWave market blossoms, the benefits to SensorView, Qualcomm’s sole vendor for 39GHz mmWave small cells, will become more prominent," and explained, "SensorView has developed integrated products combining antenna, cable, and connector to enter the mmWave solution market for mobile devices."

He added, "We are conducting reliability and mass production tests with Qualcomm," and "mmWave smartphones apply two chipsets: a ‘5G modem’ for digital functions and an ‘mmWave module’ responsible for RF functions. The product SensorView is developing serves as an RF cable connecting these two chipsets."

Researcher Lee judged that based on synergy with Qualcomm, a leader in the mmWave market, SensorView is highly likely to preemptively enter the mobile cable market upon mmWave commercialization.

He forecasted, "SensorView’s performance this year will follow a pattern of strong first half and weaker second half, with the effect of expanded orders from major customers in the fourth quarter becoming visible as performance growth," and "We expect to achieve break-even point (BEP) level profitability around the fourth quarter of this year." He added, "We will attempt to turn annual operating profit positive starting next year."