Seoul Semiconductor Achieves Historical High First Quarter Revenues Increased by 28.3% YoY
Seoul Semiconductor Co., Ltd. ("Seoul") (KOSDAQ 046890), a leading global LED product and technology provider, today announced KRW 312 billion of consolidated revenues for the first quarter, growing 28.3% year on year. Recovering from COVID-19 pandemic impact in the first half last year, Seoul continued to record over KRW 300 billion quarterly revenues for the past three consecutive quarters, which has achieved the historical highest first quarter of 2021 revenues since the company establishment.
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Despite the low seasonality in the LED industry, Seoul's strong performance in the first quarter will lead to a higher expectation for financial results of the fiscal year 2021. The financial results including revenues and profit analysis will be released at the end of April.
"Manufacturing transition to Vietnam, which has been started from 2017, entered the stabilization stage. Seoul expects further profitability for the year by delivering superior cost advantage and pricing competitiveness. We also expect exceptional revenue growth in the 2nd half as mass production of mini LEDs, one of the core next generation display technologies, starts," said an officer at Seoul.
Seoul's mini LED uses package-less WICOP products, the world's first revolutionary technology directly mounting LED chips onto a substrate.
About Seoul Semiconductor
Seoul Semiconductor is the world's second-largest global LED manufacturer, a ranking excluding the captive market, and has more than 14,000 patents. Based on a differentiated product portfolio, Seoul offers a wide range of technologies, and mass produces innovative LED products for indoor and outdoor lighting, automotive, IT products, such as mobile phones, computer displays, and other applications. The company's world's first technologies are becoming LED industry standard and leading global market with a package-free LED, WICOP; a high-voltage AC-driven LED, Acrich; a LED with 10X the output of a conventional LED, nPola; a ultraviolet clean technology LED, Violeds; an all direction light emitting technology, filament LED; a natural spectrum LED, SunLike; and more. For more information, please visit www.seoulsemicon.com/en.
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