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June 24, 2017

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Largan Precision poised to hit new sales record

TAIPEI, Taiwan -- Smartphone camera lens supplier Largan Precision Co. (大立光) is expected to rake in NT$3 billion in April, and the company may hit a new sales record in the second quarter, analysts said.

Largan Precision's revenues grew over 70 percent in March to hit NT$2.834 billion. As smartphone makers such as HTC as well as various Chinese brands are expected to roll out new products in the coming months, forecasts indicate that Largan's revenue will go up in April.

In addition, Apple Inc. is expected to release iPhone 6 in the third quarter, and Largan Precision is poised to benefit from the launch. Analysts said that Apple Inc. may launch iPhone 6 in September, which will drive component demand from Largan between June and July. The company's revenues may also hit a record high as a result, said institutional investors.

Largan Precision said that strong demand contributed to its growth in March. With stable orders continuing in April, the company expects further growth this month.

Largan Precision's revenues reached nearly NT$6.85 billion in the first quarter, and institutional investors forecast sales to grow between 7 percent and 15 percent in the second quarter, reaching NT$7.2 billion to NT$8 billion.

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