Genius Electronic Optical Co (GSEO, 玉晶光), a supplier of handset camera lenses for Apple Inc’s iPhones, yesterday said it expects order momentum to gain steam in the second half of this year due to the launch of new smartphones and growing adoption of high-margin periscope lenses.
As the third quarter is traditionally the peak season for the smartphone industry, and as customers have already begun placing orders, the company’s business performance is expected to improve from this month, company chairman Jones Chen (陳天慶) told reporters in Taichung following the company’s annual shareholders’ conference, the Chinese-language Liberty Times (sister paper of the Taipei Times) reported.
“The amount of orders in the second half of this year is expected to be higher than the same period last year. However, the company’s business is still facing pressure from tariffs and currency exchange rates, which might weigh on our subsequent sales and order intake,” Chen was quoted as saying.
Photo: Ou Yu-hsiang, Taipei Times
Genius’ revenue last month fell 32.55 percent month-on-month, down 19.56 percent year-on-year to NT$1.251 billion (US$42.36 million) — the company’s lowest monthly revenue since June 2023, it said.
Cumulative revenue for the first five months of this year declined 2.79 percent annually to NT$8.426 billion, it said.
The company attributed last month’s revenue decline primarily to a reduction in virtual reality (VR) lens orders from customers, while the seasonal slowdown in the smartphone market during the second quarter also dampened demand.
Genius over the past few years has made inroads into the VR and augmented reality (AR) segments in an effort to diversify revenue sources beyond handset lenses.
Genius president Lee Kuo (郭英理) said that while US tariffs have not yet been finalized, there has been no specific impact on the company’s business.
The only concern is that weakening end-market demand related to tariff uncertainty might weigh on the company’s performance in the second half of the year, he said.
However, a strong pipeline of new products this year, along with smoother periscope lens production compared with last year, is expected to support sales growth, he added.
Genius operates manufacturing facilities in Taichung and the Chinese city of Xiamen.
Despite concerns over potential US tariffs, customers have not asked the company to establish a third production base, he said.
Internally, the company is evaluating whether to establish a new manufacturing site outside of Taiwan and China, with Vietnam, Thailand and Malaysia under consideration, but no final decision has been made yet, Kuo said.
The company reported capital expenditure of nearly NT$3 billion last year and estimated that this year’s spending would be similar to last year’s level.
Shareholders yesterday approved a cash dividend of NT$18 per share, representing a payout ratio of 45.94 percent based on last year’s earnings per share of NT$38.35 — a record high for the company.
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