Largan Precision sales reach new high in August of NT$1.17 billion

Its combined sales in the first eight months of this year totaled NT$7.22 billion, up 59 percent compared with the same period of last year.

Sales in July were NT$1.06 billion, representing an 11 percent month-on-month growth and a 42 percent year-on-year growth.

Largan Chairman Chen Shi-ching said earlier that the company's revenues in each month of the third quarter are expected to surpass the NT$1 billion level.

The leading smartphone lens supplier also predicted that a 5-megapixel lens will become its mainstream product in the third quarter, with the revenue generated by the high-end lens expected to exceed the 20 percent of total revenues in the second quarter.

Institutional investors are mostly upbeat about Largan's outlook because the production of smartphones is expected to grow 30 percent between 2010 and 2012, with more smartphones using an 8-megapixel lens instead of a 5-megapixel one.

Yuanta Investment Consulting said in a report that Largan apparently has no competitors in the high-end cell phone lens field and that its increasing production of voice coil motors, a component used in auto-focus functions in cameras, will also help boost the company's sales.

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