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Apex enjoys robust PCB demand from Samsung

Apex International, a Thailand-based PCB maker established by Taiwanese entrepreneurs, has received booming orders for PCBs used in miniLED backlight units (BLU) from Samsung Electronics, according to industry sources.

When the pandemic was resurging in Southeast Asia earlier in 2021, Samsung still produced miniLED-backlit LCD TVs by highly utilizing capacity at its factory in Vietnam, the sources said. This shows Samsung's ambition of gaining makert leadership for miniLED-backlit TVs, although global TV demand began to decline in July 2021, the sources said, adding Apex is currently the only PCB supplier for Samsung's miniLED BLUs.

While miniLED BLU-use PCBs do not have many layers, production is still complicated, and difficult technologically, the sources cited Apex as indicating.

Apex recently completed its third factory in Thailand with plans to install three PCB production lines there in 2021. The first one became operational in July. The factory will focuses on production of miniLED BLU-use PCBs, the sources said, adding Apex's first factory in Thailand has seen its corresponding production capacity fully utilized.

As many ODMs/OEMs have been tapping the Southeast Asia market, Apex is expected to see increasing business opportunities, and as a result, growth in orders is likely to outpace its capacity expansion, the sources indicated.

Apex has reported consolidated revenues of NT$1.140 billion (US$40.8 million) for September, increasing 9.45% sequentially and 26.39% on year, and those of NT$3.611 billion for third-quarter 2021 grew 3.39% sequentially and 12.04% on year. Consolidated revenues reached NT$10.364 billion for January-September, rising 17.63% on year.