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Coretronic hikes forecast growth in 2021 BLU shipment to 25-30%

Coretronic has upward adjusted forecast growth in 2021 shipments for LED backlight units (BLUs) from 20% originally to 25-30%, according to president Sarah Lin for the company's Display Business Group.

Fourth-quarter 2021 shipments for BLUs used in LCD TVs and public information displays are expected to increase over 15% sequentially, those for notebooks to remain unchanged or rise slightly, and those for LCD monitors to decrease 10-15%, Lin said.

Coretronic has received increasing orders for BLUs used in LCD TVs, but short supply of semiconductor components and restricted power supply in China may prevent production from fully meeting demand, Lin noted.

Coretronic's notebook-use OLED modules are being validated by clients, and revenues from this segment in 2022 are expected to grow the largest among all product lines, Lin said, adding that Coretronic is likely to begin production of monitor-use OLED modules in 2022.

As the coronavirus pandemic in Vietnam is easing, Coretronic has resumed production of LCD TV modules at a factory there. However, Coretronic has deferred construction of its second factory in Vietnam until first-quarter 2022, but production at the factory will kick off in first-half 2023 as scheduled.

Coretronic shipped 16.68 million LED BLUs and about 210,000 projectors and visual solution devices in third-quarter 2021, with revenues of NT$7.461 billion (US$267 million) for the former accounting for 57.2% of the corresponding consolidated revenues and those of NT$3.345 billion for the latter for 25.6%.

In terms of application of LED BLUs, LCD TVs and public information displays accounted for 24% of the revenues, LCD monitors for 20%, notebooks for 49%, and tablets for 2%.

Coretronic: Financial results, 3Q21 (NT$m)

 

3Q21

Q/Q

Y/Y

Jan-Sep 2021

Y/Y

Consolidated revenues

13,046

11.98%

9.25%

34,719

12.20%

Gross margin

17.97%

-0.47pp

0.34pp

17.71%

0.27pp

Operating profit

616

59.59%

74.01%

1,080

123.14%

Net Profit

569

3.83%

-2.74%

1,504

31.70%

Net EPS (NT$)

1.46

   

3.77

 

Source: Company, compiled by Digitimes, October 2021

By DIGITIMES

Link:https://www.digitimes.com/news/a20211027PD203.html

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