New Kinpo Group (新金寶集團), helmed by seasoned entrepreneur Rock Hsu (許勝雄), is planning to almost double its revenue this year on the back of printers, set-top boxes and LED lighting.
The group earned US$5.66 billion in revenue last year and it has set an ambitious target of US$10 billion in sales for this year, Hsu said yesterday, before the firm’s annual dance-and-dinner party, at Taipei’s Nangang Exhibition Hall.
With economies of scale from larger product shipments, the group will be able to reduce costs and ensure profit growth, he said.
New Kinpo Group consists of three main subsidiaries: Kinpo Electronics Inc (金寶電子), which manufactures calculators; AcBel Polytech Inc (康舒科技), a maker of LED lighting and smart grid solutions; and Cal-Comp Electronics and Communications Co (泰金寶), which produces handsets, printers and LCD TVs.
New Kinpo forecasts shipments of its external hard drives will increase from 19 million units last year to 49 million units this year, making it the world’s top contractor with around 50 percent of global market share.
It predicts set-top box shipments will also soar from 14 million units last year to 25 million units this year — also making it the world’s biggest producer, while calculator shipments are forecast to rise from 47 million units last year to 57 million units this year, Hsu said. LED lighting should see shipments nearly triple to 10 million units, from 3.6 million last year, he added.
Hsu said the current quarter should be the trough and overall business sentiment should start to bottom out after March.