7 April 2021
For first-quarter 2021, South Korean LED maker Seoul Semiconductor Co Ltd has reported consolidated revenue of KRW312bn, up 28.3% year on year. Recovering from the COVID-19 pandemic impact in first-half 2020, Seoul continued to register over KRW300bn quarterly revenue for the past three consecutive quarters, including record first-quarter revenue for the company.
Despite being a seasonally low quarter in the LED industry, Seoul’s strong performance in the first quarter will lead to a higher expectation for full-year 2021, says the firm.
“The manufacturing transition to Vietnam, which has been started from 2017, entered the stabilization stage,” notes Seoul Semiconductor. “Seoul expects further profitability for the year by delivering superior cost advantage and pricing competitiveness. We also expect exceptional revenue growth in the second half as mass production of mini-LEDs, one of the core next-generation display technologies, starts,” it adds. Seoul’s mini-LED products use package-less WICOP (wafer-level integrated chip on PCB) technology, reckoned to be the world’s first technology that directly mounts LED chips onto a substrate.
Seoul Semiconductor will report details of first-quarter earnings and sales guidance for second-quarter 2021 at the end of April.