Senko Surpasses 7.1 Billion KRW in 1Q Sales... 37% Increase Year-on-Year

[Asia Economy Reporter Jang Hyowon] Senko, a total solution company for gas sensors (CEO Ha Seungcheol), announced on the 17th that its individual standard first-quarter sales reached 7.1 billion KRW, a 37% increase compared to the same period last year, and operating profit was 800 million KRW, a 300% increase compared to the same period last year.

Looking at the sales composition compared to the same period last year, sales in the sensor device sector increased significantly, while sales of home CO alarms sharply declined, causing the overall sales proportion to drop from 45% to 4%.

According to the company, not only did overseas market sales of sensor devices double compared to the same period last year, but the start of sensor device supply to a domestic global semiconductor company also led to this performance increase.

Senko judged that the home CO alarm market, which was spotlighted as a new domestic legal market in 2020, no longer has growth potential unlike its initial stage, and has transformed into a market where competition with low-priced products is inevitable. Since the second half of last year, the company decided to shift its business direction by moving away from the domestic home CO alarm market and focusing more on the global industrial gas safety device market with upside (growth potential) to lead continuous growth.

Sensors are increasingly utilized for industrial purposes. The global market research firm Markets and Markets expects the worldwide industrial sensor market to grow from $14.5829 billion (approximately 17.26 trillion KRW) in 2020 to $22.55617 billion (approximately 26.84 trillion KRW) in 2025, at a compound annual growth rate of 9.23%.

A Senko official stated, “Although sales growth was not significant last year while winding down the domestic home CO alarm business, we have overcome this and will continue the upward trend in performance in the second quarter following the first quarter results. Going forward, rather than focusing on short-term results, we will set the business direction toward markets with high growth potential and expand various portfolios domestically and internationally for sustainable growth.”

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