Smartphone camera lens maker Largan Precision Co (大立光) yesterday posted a 0.63 percent month-on-month increase in revenue for last month, reversing a 16.73 percent monthly decrease in the previous month, but still declining 6.15 percent from a year earlier.
Consolidated revenue increased to NT$3.15 billion (US$107.2 million) last month from NT$3.13 billion in April, the company said in a statement, as major customers began to restock inventories ahead of new product launches in the third quarter.
The company reported revenue of NT$3.35 billion in May last year.
Photo: Chen Mei-ying, Taipei Times
High-margin lenses for cameras of 20 megapixels or more accounted for 10 to 20 percent of its shipments last month. Lenses for products of 10 megapixels or more comprised 50 to 60 percent of purchases, while lenses for 8-megapixel products made up 10 percent and lenses for products with lower resolutions contributed 30 to 40 percent, Largan data showed.
Cumulative revenue in the first five months of this year decreased 11.6 percent to NT$16.41 billion, from NT$18.56 billion a year earlier, the company said.
The global smartphone market has shown signs of weakness this year as lockdowns in cities in eastern China and supply chain bottlenecks continue to weigh on the industry, while a weak macro environment also placed a dent in consumer demand for consumer electronics such as handsets, industry watchers have said.
International Data Corp (IDC) last week forecast that global smartphone shipments would fall 3.5 percent annually to 1.31 billion units this year, a downward revision from its previous forecast of an annual 1.6 percent increase, while Yuanta Securities Investment Consulting Co (元大投顧) predicted global shipments would decline 2.3 percent to 1.295 billion units this year, from 1.326 billion units last year.
Largan chief executive officer Adam Lin (林恩平) on April 14 told investors that revenue for last month and April would be lower than March’s NT$3.76 billion due to seasonal factors and component shortages.
Order momentum is expected to come in stronger this month than last month as more Chinese cities ease their restrictive COVID-19 prevention measures and companies resume operations, Largan said.
Largan, whose customers include Apple Inc, Sony Corp, Samsung Electronics Inc and Huawei Technologies Co (華為), is scheduled to hold its annual general meeting on Wednesday, with shareholders expected to sign off on the company’s financial report for last year and re-elect board directors.
Lin is expected to shed light on the company’s outlook for the second half of the year after the meeting.
As a leading maker of optical lens modules, Largan also produces voice coil motors, contact lenses and sleep monitoring systems.
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