JNTC Reports 75.6 Billion KRW in Q1 Consolidated Sales... "Expecting Turnaround in Second Half"

[Asia Economy Reporter Hyunseok Yoo] JNTC announced on the 17th that it recorded consolidated sales of 75.6 billion KRW and operating profit of 7.9 billion KRW in the first quarter of this year. This represents a decrease of 27.9% and 78.6%, respectively, compared to the same period last year. The company explained that external environmental factors such as semiconductor supply issues and the ongoing US-China trade dispute were significant.

However, sales increased by 24% compared to the previous quarter, and operating profit turned positive. A JNTC representative stated, “Sales and profits recovered compared to the previous quarter due to the resolution of temporary factors such as year-end inventory adjustments, and we expect performance growth to accelerate once the new production facilities begin full operation in the second half of the year.”

JNTC is on the verge of completing its third factory in Vietnam this month. Going forward, the company has established a mass production system capable of producing cover glass of all sizes, from small to large, through expanded production capacity.

From the second half of the year, the company plans to fully ramp up mass production of new products such as smart watch cover glass, automotive cover glass, camera windows, and UTG, aiming to generate financial performance. The company intends to diversify its business portfolio, which was mainly focused on smartphone cover glass and connectors, to build a stable product and customer portfolio.

Jang Yongseong, CEO of JNTC, stated, “Through innovative new product mass production and strategic expansion of production capacity, we will prepare for the future and establish ourselves as a leading cover glass company in name and reality.”

This content was produced with the assistance of AI translation services.