Mojo Vision, the Invisible Computing company who is developing smart contact lens with Micro LED technology, announced by the end of April its additional funding raised in Series B-1 investment round. The found will be used to gear up the development of Mojo Lens, the smart contact lens to realize AR applications. (Image: Mojo Vision) Mojo Vision has raised US$51 million in the B-1 round, bringing the total funding to date to more than US$159 million. The latest round of funding was led by New Enterprise Associates (NEA) with participation from top stra...

Germany-based semiconductor equipment provider AIXTRON published its financial results of the first quarter of 2020. The company reported an on-year increase for order intake but drops in revenue and profit. AIXTRON’s order intake grew by 28% YoY for 1Q20 to EUR 68.8 million (US$ 74.9 million) due to continued strong demand for the increasing use of LED-based display applications and the production of lasers for optical data transmission and 3D sensors, especially in mobile phones. The revenues for in Q120, however, dropped by 40% YoY and 45% QoQ...

Tridonic, the lighting technology company of the Zumtobel Group, welcomed its new CEO on May 1, 2020. Meanwhile, Dutch lighting company Signify report the pricing of its Eurobond to refinance the bridge loan for the acquisition of Cooper Lighting. Hugo Rohner has become the Chief Executive Officer (CEO) of Tridonic of the Austria based Zumtobel Group. Hugo Rohner is an internationally experienced manager in the fields of digitalisation and IoT (Internet of Things) and was most recently the CEO of the Skidata Group in Salzburg. He will reports directly...

Cree posted the financial results of the third quarter of its fiscal 2020, ended March 29, 2020. The company registered a revenue of US$215.5 million, representing an on-year decrease of 21% and a 10% decrease compared to the second quarter of fiscal 2020. GAAP net loss from continuing operations attributable to controlling interest for the third quarter was US$61.6 million, or US$0.57 per diluted share. On a non-GAAP basis, net loss from continuing operations attributable to controlling interest for the third quarter of fiscal 2020 was US$15.5 million, or US$0.14 ...

Seoul Semiconductor updated its business performance of the first quarter of 2020 with a consolidated revenue of KRW 243 billion (US$199.75 million) and operating profit of KRW 6 billion (US$4.93 million). Despite abruption to production facilities for most global manufacturers due to COVID-19, Seoul achieved its guided range of KRW 240 billion to KRW 260 billion in revenues for the quarter. To mitigate manufacturing risks, Seoul has built manufacturing sites in various locations such as Korea, China, Vietnam and in the US. This has helped the company to...

Signify announced the company’s first quarter 2020 results with sales amounted to EUR 1.43 billion (US$ 1.53 billion), down by 3.5% YoY. With adjusted for 1.3% currency effects and 10.6% consolidation (mainly related to the acquisitions of Cooper Lighting and Klite) and other changes, comparable sales declined by 15.3%. LED-based sales represent 78% of total sales. The adjusted gross margin increased by 50 bps to 38.2%, including a negative currency effect of 10 bps. Adjusted indirect costs decreased by EUR 4 million (US$ 4.295 million). The Adjusted EBIT...

Sweden-based horticulture lighting technology provider Heliospectra announced a new order from Turner Construction in Miami, Florida. The systems integrator and supplier will install the controllable spectra ELIXIA LED lights for several upcoming greenhouse facilities. Turner Construction is leading the design, construction, and installation services for the commercial-scale greenhouse projects across the United States in 2020. The Heliospectra ELIXIA 600W LED light will benefit the greenhouse projects by improving crop quality and performance in a wide v...

Japan Display announced that the company has been involved in improper accounting treatment with a total padded operating profit of JPY 8.2 billion (US$ 76.12 million) in the past six years since 2014, when the company was listed on the first section of the Tokyo Stock Exchange. The company was investigated by a third-party committee and revealed the results on April 13, 2020. (Image: JDI) The investigation showed that JDI recorded fictitious inventory of JPY 10 billion (US$92.86 million) in total since the fourth quarter of fiscal 2013. The investigation also...

Korean electronics giants LG and Samsung both revealed their preliminary earning guidance for the first quarter of 2020 and the spreading coronavirus pandemic did not seem to impact much on their business. LG Electronics reported tentative consolidated revenues of KRW 14.7 trillion (US$ 12.03 billion) and with an operating profit of KRW 1.1 trillion (US$ 899.8 million) for 1Q20. Compared to 1Q19, the sales was about 1.2% lower but the operating income increased by 21.1% on year. Meanwhile, Samsung Electronics posted its 1Q20 earnings guidance with consolidated...

The first quarter just ended and the continuously spreading coronavirus (COVID-19) has turned the world upside down in the first three month of 2020. Many companies across the world have reported their measures in response the impacts brought by the epidemic. LEDinside has collected industry information announced by worldwide companies to keep our readers updated. Signify Suspend Financial Outlook for FY2020, Increases 3% Product Price and Asks Employees to Cut 20% Wage The world’s largest lighting company Signify has taken several actions to cope with C...

Cree announced preliminary results for its third quarter of fiscal 2020 ended March 29, 2020 and provided a business update in light of the COVID-19 pandemic, which has had a greater impact than originally anticipated when the company provided the third quarter outlook on January 29, 2020. Revenue for the third quarter of fiscal 2020 is expected to be approximately US$216 million, compared to US$274 million in the third quarter of fiscal 2019 and US$240 million in the second quarter of fiscal 2020. The Company expects GAAP net loss for the third quarter of fiscal 20...

Canadian automotive component supplier Magna updated its current actions responding COVID-19. The company reported withdrawal of its business outlook for 2020 and mentioned that it is helping to source and produce health care supplies and equipment to combat the coronavirus epidemic. Magna noted that a number of its OEM customers, particularly in North America and Europe, have initiated production downtime or have reduced production rates. It is uncertain whether OEMs will extend production downtime or further lower production rates as circumstances evolve. While spe...

More companies published their response to the impacts resulted by coronavirus pandemic. Signify announced several measures of the company including suspending its fiscal 2020 outlook postponing Capital Market Day. Infineon Technologies reported withdrawal of its business outlook of fiscal 2020. (Image: Pixabay) Signify said that it has taken considerable action focused on the health and safety of its employees, on customer engagement and supply chain continuity and on free cash flow generation and operating expenses. The company also decided to suspend its financial outlook...

Sensor solution supplier AMS updated the progress of its acquisition of Osram and reported its financial expectations for the first quarter of 2020 after assessing the COVID-19 situation. (Image: AMS) After AMS started its takeover process for Osram since December 2019 and reported further update that the deal is expected to close in the second quarter of 2020. The Austrian sensor maker is processing its EUR 1.65 billion (US$1.78 billion) rights issues for the takeover and noted that they only require “the receipt of the required regulatory approvals&rd...

Austria-based lighting company Zumtobel announced on March 23 2020 that due to the coronavirus (COVID-19) pandemic, the Executive Board of the company is expecting a negative impact on the revenue and earnings development. Following extensive state measures based on the global spread of the coronavirus, the Zumtobel Group also implemented set of measures covering temporary production capacity adjustment and short-term remotely working. The company noted that it will temporarily shut down production sites depending on the situation. These measures have resulted in noticeab...

U.S.-based lighting company Energy Focus reported financial results of fiscal year 2019 and announced new contract with U.S.-based shipbuilder. For fiscal 2019, Energy Focus posted US$ 12.7 million for net sales, which were down by 29.83% compared to 2018. Net sales from commercial products were US$7.9 million, or 62.0% of total net sales for 2019, compared with $8.7 million, or 47.8% of total net sales, for 2018. Military and maritime products in 2019 accounted for 38.0% of total net sales with US$4.8 million. Adjusted EBITDA was a loss of US$5.9 million for 201...

Automotive lighting and electronics product manufacturer Hella reported that due the coronavirus pandemic, the company has adjusted its company outlook for the current fiscal year 2019/2020. Despite that Hella has developed sales and earnings that are in line with its expectations for the first nine months of the fiscal year 2019/2020, it still considered adjustment of the business guidance necessary. Hella indicated that on a provisional basis, currency and portfolio-adjusted sales decreased by 3.7 percent to EUR 4.8 billion (previous year: EUR 5.0 billion). The adjusted ea...

After reporting a robust financial result for its Fiscal 1Q20, Osram further announced a better than expected performance of its efficiency programs. The German company said that thanks to the increased efficiency and the initiated measures, its savings target will increase from its original target of EUR 220 million (US$ 237.5 million) euros to EUR 300 million (US$ 323.87 million) by 2022. The cumulative impact of several individually-led programs across Osram business units has resulted in beating expectations with regards to savings. Together, they have already suc...

Veeco announced financial results for the fourth quarter in 2019 and fiscal year 2019 ended December 31, 2019. For the 4Q19, the company registered a revenue of US$ 113 million, up by 14% YoY comparing to the revenue of US$ 99 million in 4Q18. Veeco also reports US$ 419 million for fiscal year 2019. Despite the revenue drop by 22% YoY, Veeco has lowered the net loss from US$ 407 million to US$ 78.7 million. Veeco marks 2019 as a transformational year with a return to profitability. The company reported improved gross margins which came to 40% and reduced expenses, ...

Seoul Semiconductor published its fiscal 2019 and 4Q19 financial results. The company posted a consolidated revenue of KRW 1129.5 billion (US$ 954.5 million) and operating profit of KRW 49.6 billion (US$ 41.91 million) for 2019. For 4Q19, the consolidated fourth quarter revenue was KRW 280.9 billion (US$ 237.36 million) while the operating profit amounted to KRW 13.9 billion (US$11.75 million). Continuing global economic slowdown due to trade and political conflicts including trade war between the US and China led to the increase of inventory and decrease o...

The LG Group is selling the headquarter buildings in Beijing China for US$1.15 billion in order to boost its liquidity under global uncertainty since its business in China is going to be negatively impacted with coronavirus outbreak. According to the report of The Korea Times, LG Electronics expects that the coronavirus could impact its Chinese market and foresees a 7% drop in smartphone shipment for the first quarter. Facing the uncertain global circumstance, LG decided to sell the twin buildings for securing liquidity and to keep the flexibility for future merges, ...

LED lighting solution provider Orion Lighting reported results of the third quarter of its fiscal 2020 ended December 31, 2019. Orion lighting registered a revenue of US$34 million for the quarter, which increased by 110%, compared to the same period last year. The company said that the strong growth came from a large turnkey LED lighting retrofit contract for a major national account. Gross profit also grew by 98% YoY to US$8.3 million for a gross margin of 24.2%. EBITDA rose to US$2.8 million in fiscal 3Q20 and US$14.7 million for the first 9 months of fisca...

Japan’s Panasonic Corporation announced that it has entered into a share transfer agreement with Munich-based Fidelium Partners, under which all shares of Panasonic Lighting Europe, which focuses on the lighting device business in Europe as a wholly owned consolidated subsidiary of Panasonic, will be transferred to the German investment firm. Panasonic acquired German lighting device manufacturer Vossloh Schwabe in August 2002 to expand its lighting device business in Europe and worked to strengthen sales of lighting devices for conventional light sources such as f...

After a year of ups and downs, Osram announced that it has kicked off its 2020 with slightly grown revenue and profit for the first quarter of its fiscal year. Osram posted a revenue of EUR 873 million (US$ 960.78 million) with 0.5% on-year growth. Its Adjusted EBITDA increased by 22% YoY to EUR 114 million (US$ 125.46 million). The adjusted EBITDA margin also climbed 2 percentage points to 13%. Business segment Opto Semiconductors performed stably with revenue amounted EUR 359 million (US$ 395 million). In the segment Digital, revenues climbed...

Signify published its fourth quarter and full-year 2019 financial results on January 31. The Dutch company reported full-year sales of EUR 6.2 billion (US$ 6.87 billion) which decreased by 4.6% YoY decrease but improved in profitability by 30bps to 10.4%. Its LED-based sales grew by 1.4%YoY, representing 78% of its sales. For 4Q19, Signify, registered sales for EUR 1.75 billion (US$ 1.94 billion) which improved by 1.4% compared to 4Q18. The adjusted gross margin increased by 30 bps to 37.8%, including a positive currency effect of 30 bps. Adjusted EBITA am...

Chip provider Epistar announced that it will double its capital expenditure to gear up for booming demands with increasing Mini LED applications in the coming years. The Taiwan-based LED chip maker sees rising demands in Mini LED products in the near future and plans to prepare its capacity in advance. As a result, Epistar said that it plans to increase its capital expenditure to above NTD 5 billion (US$ 163.83 billion), comparing to the regular expanses of NTD 2.5 billion (US$ 82 million) in the past. Currently the two major applications of Mini LED a...

Semiconductor equipment providers Veeco and K&S (Kulicke & Soffa) announced their financial results respectively. The two companies both reported business decline for the previous quarter. K&S revealed its fourth fiscal quarter of 2019 which ended September 28, 2019. The Company reported fourth quarter net revenue of US$139.8 million, net income of $6.4 million and non-GAAP net income of $9.3 million. The revenue and gross profit of K&S in fiscal 4Q19 have dropped by 24.3% and 23.8% compared to previous year. However, compared to previous quarter, bo...

Osram reported the financial results of its fiscal 2019 and 4Q19 yesterday in the same press release that backs up AMS’ takeover offer. The company reported a declined revenue in fiscal 2019 hit by the impacts of the weak Chinese automotive industry. For fiscal 4Q19, Osram registered revenues of EUR 924 million (US$ 1.02 billion), with an on-year decline of 5.3% and 9% on a comparable basis. Adjusted EBITDA came to EUR 86 million (US$ 94.72 million), down by 43.1%YoY. For fiscal 2019, the company posted revenues of EUR 3.464 billion (US$ 3.816...

Seoul Semiconductor announced its financial results of the third quarter of 2019 with revenues of KRW 283.4 billion (US$ 244.3 million), an operating profit of KRW 12 billion (US$ 10.34 million), and EBITDA of KRW 32.6 billion (US$ 28.10 million). The company said that it has achieved its guided range of KRW 280 billion to KRW 300 billion of revenues for the quarter. Despite the weak general lighting market, Seoul Semiconductor reported growing sales of WICOP products as the demand of larger and slimmer screen in the TV market increase. The sales...

German equipment solution provider AIXTRON announced the financial results for the third quarter and the first nine month of 2019. The company reported an on-year revenue increase of 2% to EUR 184.6 billion for 3Q19 and an operating result of EUR 24.5 million (US$ 27.16 million) that grew by 18%YoY. AIXTRON said that the order situation slightly recovered compared to the previous quarter. Sales were lower than in the previous quarters partly due to longer than expected processes to grant export licenses. Nevertheless, sales for the first nine months of 2019 in...