Largan Precision Co (大立光), Taiwan’s leading maker of handset lenses, posted 26 percent year-on-year revenue growth in the third quarter to NT$4.39 billion (US$143 million), after last month’s sales grew 23 percent from the same period last year, on strong customer demand.
The company said last month’s sales of NT$1.54 billion was its sixth consecutive month of record sales. Third-quarter revenue was up 8 percent from the second quarter, according to a company statement.
The Greater Taichung-based company’s major customers include HTC Corp (宏達電), Apple Inc, Nokia Oyj and Research In Motion Ltd.
Revenue for the first nine months of the year hit NT$11.97 billion, up 41 percent from the corresponding period last year, the company said. Mobile phone lenses accounted for 97 percent of total sales for the first three quarters, while 2 percent were derived from digital camera lenses and 1 percent from multifunction printers, the statement said.
Ahead of the release of Largan’s latest sales figures, Citigroup last week forecast that the company would usher in a strong fourth quarter and better-than-seasonal performance in the first quarter next year thanks to Apple’s launch of its upgraded iPhone and the higher average selling prices of 8 megapixel lenses.
Unlike Citigroup’s upbeat tone, Daiwa Capital Markets last week said it was negative on Largan Precision’s performance in the Apple supply chain, citing declining iPhone sales amid the slowing global economy and normal seasonal patterns.
In Taipei trading yesterday, Largan’s shares plummeted 6.59 percent to close at NT$652. The stock has dropped 10.07 percent since the beginning of the year, Taiwan Stock Exchange data showed.
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