Lite-On Technology Corp (光寶科技), the nation’s leading electronics components supplier, yesterday trimmed the outlook for its camera module business this year from optimistic to conservative, citing internal operational issues.
“We estimate that our camera module segment in the second half of this year will be weaker than in the first half,” Lite-On business division chief executive Danny Liao (廖學福) told an investors’ conference.
In addition to operational issues, market demand this quarter also seems softer than the company’s estimate, Liao said.
He declined to elaborate on the operational issues.
Lite-On investor and public relations director Julia Wang (王玉玲) said that if necessary, the company would write off inventory in the remainder of the year.
Lite-On’s camera modules for single and dual-camera lenses are used in high-end smartphones. Its clients are mainly Chinese smartphone vendors, such as Huawei Technologies Co (華為) and Oppo Mobile Telecommunications Co (歐珀移動).
The business, which contributed nearly 15 percent of Lite-On’s overall revenue of NT$53.06 billion (US$1.75 billion) last year, was forecast to be one of the main growth drivers of profitability this year, Lite-On chief executive officer Warren Chen (陳廣中) said in April.
Excluding the camera module business, the performance of the company’s cloud computing, LED lighting, storage and gaming applications businesses are expected to increase this quarter from last quarter, Lite-On said.
The company last quarter reported an annual decline of 8.76 percent in net income to NT$1.77 billion, which it attributed to a higher base last year.
Gross margin improved by 0.42 percentage points annually to 13.1 percent last quarter, but operating margin dropped 0.23 percentage points to 4.2 percent due to higher operating expenses, Lite-On said.
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