Tue, Dec 06, 2011 - Page 12 News List

Largan made NT$1.29 billion in revenue last month

By Jason Tan  /  Staff Reporter

Largan Precision Co (大立光), Taiwan’s leading maker of handset lenses, posted NT$1.29 billion (US$42.7 million) in revenue last month, down 8 percent from a month ago and flat from the same month last year.

It was the second month for the lens maker to post a month-on-month decline as it reported record sales for six consecutive months through September.

In October, sales were NT$1.4 billion, down 9 percent from September, but a rise of 10 percent year-on-year.

Total revenue from January to last month expanded 33 percent from last year to NT$14.68 billion, according to a company statement.

The Greater Taichung-based company — which counts HTC Corp (宏達電), Apple Inc, Nokia Oyj and Research In Motion Ltd as major customers — told an investor conference in October that order visibility was low for the fourth quarter amid economic uncertainty, with a majority of customers adjusting their shipment forecasts downward.

Daiwa Capital Markets said in a report on Nov. 24 that it reaffirmed its “sell” on Largan as the firm delivers high-pixel lens to HTC’s mid to high-end smartphones.

Largan, which gets 13 to 15 percent of its sales from HTC, will be affected by HTC’s market share loss in the high-end segment after Apple Inc rolled out the popular iPhone 4S, the brokerage said.

Shares of Largan dropped 3.26 percent to close at NT$504 on the Taiwan Stock Exchange yesterday.

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