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8.2% YoY sales growth in the third quarter, 146% increase in cumulative revenue, and annual sales growth 12% ~ 14.3% expecting
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Sales growth of WICOP technology based Mini LED and Micro LED for three consecutive quarter
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Expected to grow up to 10% in Violeds market share compared to 2020
ANSAN, South Korea –
Seoul Viosys Co., Ltd. (“Seoul”) (KOSDAQ 092190), a leading global compound semiconductor provider, announced it achieved sales of KRW 130.6 billion (operating profit KRW 9.3 billion/-0.8% ppt yoy) in the third quarter of 2021, up to 8.2% year-on-year sales growth. Its third-quarter net income increased 44% year-on-year to KRW 9.3 billion, and its cumulative net income for the same quarter increased 146% year-on-year.
Despite production setbacks in downstream industries due to a shortage of semiconductor parts, which has been the issue of the year, it is significant that solid results in the third quarter were achieved thanks to the sales of mini LED and micro LED. In particular, Micro LED's remarkable growth has continued since the beginning of this year, demonstrating Seoul Viosys as a leader in the LED technology of next-generation.
In August 2021, Seoul Viosys succeeded in developing a blue and green micro LED with a diameter of 1㎛(micrometer: one millionth of a meter) by jointly working with a research team led by Professor Shuji Nakamura, a Nobel Prize winner in physics, at the University of California, Santa Barbara, United States. This technology has solved the problem of 10㎛ size Micro LED, which has been difficult to mass-produce because the smaller the size, the lower the efficiency. At the same time, it is currently evaluated as a technology that can popularize micro LED TVs because it enabled the
LED price supplied to one 4K (UHD) TV to be lowered to 120,000 won, which is lower than the existing display.
Seoul Viosys, the world’s first company to develop and mass-produce UV LEDs, is pushing for a growth strategy of more than 10% MS compared to 2020 through cost-cutting innovation. In the press release in September 2021, Seoul Viosys announced the Violeds Air Purification Disinfector, which is equipped with its Violeds system in the air purifier and can reduce the risk of Covid-19 infection from 22% to 1/30. The product has been provided free of charge to small business owners who have been suffering from COVID-19, and companies capable of producing and globally selling Violeds Air Purification Disinfector are to be eligible for patent licenses.
Considering the current shortage of supply and demand for IT parts and the off-season, conservative guidance is being presented in sales in the fourth quarter, down 0% from -8.7% compared to the third quarter. However, while annual sales in 2021 are still expected to grow by 12% to 14.3% compared to the previous year, Seoul Viosys is preparing to take a leap in 2022.
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