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FitTech sees order visibility until 2H22

LED probing, testing and sorting equipment maker FitTech has obtained orders with shipments scheduled until the second half of 2022, according to the company.

Demand for miniLED backlighting is on the rise. Apple launched miniLED-backlit 12.9-inch iPad Pro in the second quarter of 2021 and Samsung Electronics recently launched miniLED-backlit gaming LCD monitors. In addition, China-based Huawei recently unveiled a 75-inch smart LCD TV backlit by 46,080 miniLED chips matched with 2,880 local dimming zones for sale at CNY25,000 (US$3,860), with miniLED chips supplied by China-based HC SemiTek, industry sources indicated. China's miniLED market value will keep growing from CNY3.78 billion in 2020 to CNY40 billion in 2026 at a CAGR of 45.74%, the sources cited market studies as indicating.

Due to strong demand especially in the China market, revenues from LED probing, testing and sorting equipment in 2021 are expected to increase over 50% on year, and those from miniLED testing and sorting services on an OEM basis in 2021 will at least double on year, FitTech noted. The revenue proportion for LED probing, testing and sorting equipment will drop from nearly 80% in 2020 to 70-75% in 2021 of which about half will be for miniLED models, FitTech indicated.

Besides, FitTech is developing equipment to measure and test parameters in production of laser and other semiconductor components such as those used in 5G communication, 3D and optical sensing.

FitTech posted consolidated revenues of NT$1.381 billion (US$49.4 million) for the second quarter of 2021, the highest-ever quarterly figure with growth of 16.6% on quarter and 84.3% on year.