Korean LED manufacturer Seoul Semiconductor has announced its business performance for the third quarter of 2018 with a consolidated revenue of KRW 320 billion (US$ 280.64 million). With a growth of 10% QoQ, the company has reached its guided range of KRW 300 to 320 billion. The operating income was KRW 28 billion (US$ 25.56 million) and EBITDA was KRW 55 billion (US$48.24 million).

According to Seoul Semiconductor, its TV division sales have significantly increased due to the enlarging trend of display screens during the third quarter. In addition, its cost leadership was enforced on the back of the rising demand of its differentiated technology WICOP. Customers’ rising demand for WICOP and Acrich MJT technologies in the high power segment for lighting also contributed to the business growth.

(Image: Seoul Semiconductor)

For automotive lighting, WICOP and nPola made inroads into new head-lamp applications. Seoul has promoted its package less WICOP for automotive headlamp application and the product gained further traction from global automakers. It has been adapted into cars that are scheduled to be mass produced in 2019 and 2021, driving the sales momentum of the fourth-quarter.

Despite the general slow season in the fourth quarter for the front industry, Seoul Semiconductor reported that its new manufacturing plant in Vietnam is expected to contribute to increased profits and stabilize the business in the fourth-quarter. The projected sales of the company for 4Q18 is KRW 300 to 320 billion with continuous on year growth.

“The founder’s insight and teamwork of employees in various countries were behind the great achievement of turning crisis into opportunity to record a three-year consecutive sales growth after suffering from three years of stagnant growth. The company is capability of generating KRW 200 billion of EBITDA annually and will further pursue shareholder friendly policies,” said Min Su Son, marketing vice president of Seoul Semiconductor.