5th generation mobile communication (5G) component company Y-Palm continued its growth trend last year by showing a clear improvement in performance.
Y-Palm announced on the 11th that its sales last year amounted to 122.11752 billion KRW, an increase of 79.1% compared to the previous year. Operating profit during the same period also rose by 66.0% to 10.66528 billion KRW compared to the previous year.
The expansion of product adoption by major clients and the launch of new products, including 5G radio frequency (RF) power amplifier modules, were key factors driving performance growth. According to the company, global automakers are expanding the adoption of 5G-based communication modules, which have higher margins than existing LTE, to advance autonomous driving.
Additionally, the expansion of the sales base through the addition of new consolidated subsidiaries supported the growth trend. However, net profit turned to a loss. The main cause was valuation losses including those on Doosan Tesna and other held stocks.
Y-Palm plans to continue sustainable growth through expanding its product portfolio and targeting the global market.
A company representative stated, "We plan to strengthen competitiveness through continuous technology development and quality improvement, while accelerating the acquisition of new clients and expansion into global markets. Furthermore, we will pursue various strategies to establish a stable profit structure and achieve sustainable growth."
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