Sonid, Q2 Consolidated Sales of 25.5 Billion KRW... Up 252.8% YoY

[Asia Economy Reporter Jang Hyowon] SonyD, a KOSDAQ-listed company, announced on the 19th that its consolidated operating profit for the second quarter of this year increased by 8945% year-on-year to 1.2 billion KRW, and sales rose by 252.8% to 25.5 billion KRW. On a separate basis, it also achieved strong performance with sales of 10 billion KRW and operating profit of 1.2 billion KRW.

SonyD's sales continued to grow in new business sectors such as RFID, as well as in its existing core businesses including new materials for LCD and OLED. The acquisition of FD Display, a specialized display inspection equipment manufacturer, in February was also reflected in sales and operating profit.

The company stated that strong sales growth in new display materials, increased operating profit, and a boom in the RFID tag business contributed to the strong performance on a separate basis as well.

SonyD produces hardware for IoT smart logistics solutions such as RFID and tag readers. The RFID tag business saw increased demand in various fields including alcoholic beverages, clothing, and tires, driven by the reopening and recovery of the consumer goods market.

Choi Simyeong, CEO of SonyD, said, “Thanks to the favorable conditions in new display materials and the RFID industry, we have achieved cumulative sales of 42.5 billion KRW for the half-year, continuing our steady growth. Along with our existing businesses, we will secure technological competitiveness in new RFID sectors and further expand our upward momentum in the second half as an upgraded materials and components company.”

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