Handset camera lens maker Largan Precision Co (大立光) on Sunday reported a 6.71 percent year-on-year decline in revenue for the third quarter, despite revenue last month hitting the highest level in 11 months.
Third-quarter revenue was NT$17.68 billion (US$581.2 million), compared with NT$18.95 billion a year earlier, the company said in a statement.
The figure was in line with Yuanta Securities Investment Consulting Co’s (元大投顧) forecast of NT$17.9 billion, but missed the market consensus estimate of NT$18.97 billion.
Photo: David Chang, EPA-EFE
The third-quarter revenue was a 51.44 percent increase from NT$11.67 billion in the second quarter, as the quarter is usually the peak season for Largan, while Apple Inc starts to build up inventory for its new iPhone 17 lineup, Fubon Securities Investment Services Co (富邦投顧) said.
Largan is a major camera lens supplier for the California-based company’s iPhones. Fubon Securities said it expects the Taiwanese firm to remain the main or sole lens supplier for some models, especially the iPhone 17 Air.
The iPhone 17 series saw unexpectedly strong sales after their launch, driving additional orders of lenses, which also significantly boosted Largan’s sales last month to reach NT$6.24 billion, the highest since October last year, when it posted sales of NT$6.55 billion, the company’s data showed.
Taichung-based Largan is the world’s largest handset camera lens producer, supplying high-end products for Apple and Android phone vendors, such as Samsung, Xiaomi Corp (小米) and Huawei Technologies Co (華為).
In the first nine months of the year, Largan’s cumulative revenue was NT$43.93 billion, up 6.5 percent from NT$41.25 billion a year earlier, the company’s data showed.
Largan is to release its earnings results for the third quarter at an investors’ conference on Thursday, and give sales guidance for this quarter.
Investors are also expected to hear from the company about the subsequent sales of iPhone 17 series, the progress of Largan’s variable aperture lenses, the development of its lenses for foldable or thin smartphone models and high-precision lenses for humanoid service robots.
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