Newplex, Benefiting from XR Market Expansion

[Asia Economy Reporter Hyungsoo Park] As the market for extended reality (XR) devices grows, it is expected that Newflex will benefit.

Newflex is a company that manufactures flexible printed circuit boards (FPCB). It primarily produces FPCBs for camera modules and wireless charging. As of last year, sales of FPCBs for camera modules accounted for about 75%, while wireless charging and other applications made up 25%.

Researcher Sowon Kim from Kiwoom Securities explained, "We expect an expansion of market share due to competitors withdrawing from the business," adding, "As demand for camera FPCBs in XR devices increases, Newflex will benefit."

She continued, "Newflex exclusively supplies camera module FPCBs used in Meta Quest," and added, "Meta Quest holds an overwhelming 78% market share in the XR device market and is leading the expansion of the XR market."

Furthermore, she emphasized, "The benefits from the expansion of the XR device market will continue," and noted, "Meta will unveil the 'Meta Quest Pro (tentative name)' next month."

Researcher Kim predicted, "Four camera module FPCBs were supplied for the Meta Quest 2," and "The Meta Quest Pro will have cameras mounted on the handles as well, and Newflex will exclusively supply 11 FPCBs per unit."

It is estimated that this year Newflex will achieve sales of 246.5 billion KRW and an operating profit of 20.6 billion KRW, representing increases of 44% and 1273%, respectively, compared to last year.

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