Cub Elecparts Inc (為升), which makes electric switches and electric sensors for automobiles, yesterday said it is to tap the advanced driver-assistance systems market this year.
“Blind spot detection systems are expected to make a significant contribution to Cub Elecparts’ revenue next quarter,” a company official said by telephone yesterday.
Equipped with high-end sensors, blind spot detection systems are able to detect other vehicles near the driver’s side of the vehicle and avoid potential collisions when drivers overtake other vehicles or change lanes.
The official, who declined to be named, said that Cub Elecparts is planning to set up two new production lines for the products, with each capable of making more than 2 million radars per year.
“The US is likely to be a target market [of blind spot detection systems] this year,” the official said, citing the nation as the company’s largest export market.
Cub Elecparts has attained ISO 17387 certification for its lane change decision aid system, allowing it to further tap the driver-assistance systems market, it said.
The company is working on research and development projects for other vehicle safety services, including forward collision warning systems and autonomous emergency braking systems.
The company plans to allocate nearly NT$180 million (US$5.92 million) for capital expenditure this year, compared with last year’s NT$140 million.
Cub Elecparts is optimistic about this year, the official said, amid growing global demand for its core product, tire-pressure monitoring systems.
Tire-pressure monitoring systems made up nearly 60 percent of the company’s total sales last year, while switches and sensors accounted for 40 percent, company data showed.
While upbeat about its sales outlook, Cub Elecparts said foreign-exchange fluctuations might drag its profitability this year.
The company posted a net profit of NT$1.12 billion last year, down 0.4 percent year-on-year, or earnings per share of NT$12.14, with sales soaring 21 percent to NT$3.42 billion, company data showed.
The decline in net profit was primarily due to foreign-exchange losses of nearly NT$10 million because of the appreciation of the New Taiwan dollar against the greenback, as well as the acquisition of Harbinger Technology Corp (至鴻), the company said.
The company spent up to NT$500 million last year acquiring a 51 percent stake in Harbinger.
In related news, Cub Elecparts on Thursday said that it had won its lawsuit against E-Lead Electronic Co (怡利電子) for violation of intellectual property rights.
E-Lead was ordered to pay NT$116 million in compensation for plagiarizing Cub Elecparts’ tire-pressure monitoring systems, a company filing with the Taiwan Stock Exchange said.
Cub Elecparts shares rose 1.6 percent to close at NT$257 in Taipei trading yesterday.
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