Seoul Viosys projects record sales for the first quarter

2021.04.07 11:24:46 | 2021.04.07 15:36:58

[Photo provided by Seoul Viosys Co.]이미지 확대

[Photo provided by Seoul Viosys Co.]

Seoul Viosys Co., a subsidiary of South Korea’s leading LED manufacturer Seoul Semiconductor Co. projected record sales in the usually slow first quarter on broadened applications in micro LED technology.

In its earnings guidance released Tuesday, Seoul Viosys estimated sales to have risen 39 percent on year to a record 121.2 billion won ($108.5 million) in the first quarter. The guidance did not include income.

It owed its feat to Wicop technology, the world’s first package-less LED for headlamp and automotive lighting, a core technology for mini or micro-LED.

The company started to mass-produce Micro Clean Pixel solution and supply 25-Gbps vertical cavity surface emitting laser (VCSEL) diodes for near-field communications, another driver in sales.

[Photo provided by Seoul Viosys Co.]이미지 확대

[Photo provided by Seoul Viosys Co.]

Seoul Viosys expects to achieve double-digit growth in sales this year.

The Kosdaq-listed company earlier promised to release earnings guidance to turn more appealing to shareholders. It also vowed to buy 10 billion won worth treasury shares and increase the dividend payout ratio – the ratio of total dividend payment to shareholders against a company’s net income – from 20 percent to 50 percent.

Shares of Seoul Viosys gained 1.24 percent to close at 16,300 won on Wednesday.

By Ahn Byung-joon and Lee Soo-min

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