Seoul Semiconductor forecasted Acrich LED modules will provide a breakthrough in earnings as demands grow from overseas companies, according to a report from The Korea Times.

Oversupply situation in the global LED industry led to the low performance since last year, as Chinese companies continued aggressive marketing strategies.

Despite the market conditions, the company remained positive about its business outlook for next year due to the Acrich brand’s upbeat performance.

"We have made meaningful progress in building the Acrich brand and this will boost our overall performance," the company said.

The product has been well received from clients in Europe, Asia, Africa, Australia and the U.S.
 

Analysts expect the company to beat market expectations in terms of earnings.

"We expect Seoul Semiconductor to report a 12.4 billion won (US $11.2 million) operating profit for the last three months of the year, beating a market consensus of 6.1 billion won," said Korea Investment Securities analyst Lee Seung-hyuck in a note to clients Monday.

Its sales are expected to rise 12 percent from a quarter earlier to 258 billion won, he said.