KoAsiaOptics, 177.9 Billion KRW in Sales Last Year

[Asia Economy Reporter Hyungsoo Park] Camera module company CoAsia Optics announced on the 13th that it achieved sales of 177.9 billion KRW last year. During the same period, operating loss was 13 billion KRW, and net loss was 14.3 billion KRW.

A company official explained, "Due to the impact of COVID-19, there were production disruptions in the lens division of our Vietnam manufacturing subsidiary," adding, "This year, we expect to turn profitable through growth in the compact camera module (CCM) business and structural improvements in the lens business."

CoAsia Optics, which primarily focused on camera lenses, became the largest shareholder of CoAsia CM Vina, a camera module manufacturer, in the fourth quarter of last year. It also acquired shares in CoAsia CM, responsible for electronic component procurement and distribution, establishing a 'one company' portfolio capable of lens and module production, sales, and delivery.

CoAsia Optics plans to strengthen its capabilities by linking camera lenses and modules. Since lenses are core components of modules, they expect significant synergy effects in delivery, quality, and cost aspects. The strategy is to leverage group companies' capabilities and sales networks, including CoAsia and CoAsia Electronics, to mark this year as the first year of full-scale growth.

A company representative stated, "We are gradually expanding the lineup of high-resolution and high-value-added front and rear camera modules," and added, "We are accelerating research and development to expand new growth engines, including product lineups related to optical image stabilization (OIS) and automotive modules."

Last month, CoAsia Optics signed a business agreement with InSignal, Qualcomm's official domestic design house for extended reality (XR) metaverse, to collaborate on metaverse business. Through this agreement, they will cooperate across the entire business, including the development of metaverse devices such as virtual reality (VR), augmented reality (AR), mixed reality (MR), and XR.

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