Seoul Semiconductor achieves 1.04 billion US$ record annual revenues for fiscal year 2017
Seoul Semiconductor Co., Ltd. (KOSDAQ 046890), a market leader in LED (light emitting diode) design and manufacturing, today announced 2017 fiscal year consolidated revenues of US$ 1.04 billion. The 16% rise in consolidated revenues far exceeds the industry average, which grew 2% during the same period. The growth of revenue is contributed to improvements in both general lighting sales and IT product related sales growing in the mid-teens as well as the automotive lighting business which grew more than 20%.
This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180130005564/en/
Headquarters Seoul Semiconductor Co., Ltd., Ansan, South Korea (Photo: Business Wire)
The rise in revenue for the general lighting segment was largely due to an increase in sales of 220V and 370V Acrich MJT products for household and industrial applications. Other notable revenue increases were reported for WICOP, an innovative product line of package-less LEDs, as well as for the Acrich NanoDriver, which incorporates step drive methods that achieve results greater than those of conventional SMPS technology. In addition to offering these differentiated technologies, Seoul expects its SunLike natural spectrum LED technology, which may offer health benefits for human eyes, to lead the future of LED lighting and become a large contributor to the future sales and profit for the company.
Researchers who won the Nobel Prize in 2017 were recognized for their new findings of the impact of light on circadian rhythm in humans. This has proven to be an important topic in our society and generated great attention for Dr. Charles Czeisler, the Harvard professor that has dedicated his research to this particular area. He is now conducting research study with NASA on how light affects the circadian rhythms of astronauts.
According to new research, myopia (near-sightedness) increased from 20% in the 1950s to 80% in 2010 among populations in Asia. Fluorescent lights and conventional LED light sources emit a strong blue light that is known to cause eye fatigue, which may later result in retinal damage. Seoul Semiconductor, together with Toshiba Materials of Japan, has jointly developed SunLike natural spectrum LED technology, which provides lighting conditions most similar to actual sun light and can be seen as a solution that helps to protect human eyes from this potential damage.
The company provided a revenue guidance of KrW 270 to 290 billion for the first quarter of 2018. This figure is in range of 5% to 13% on a year-over-year basis. Although first quarter is normally considered to be an off-season, the company is showing a positive outlook for growth from last year for this 2018 fiscal year.
Sangbum Kim, the company’s Chief Financial Officer, has stated that fiscal year 2017 sales were a result of the company’s relentless efforts to stay ahead of competition by continuously investing in R&D and strengthening global sales organizations. In order to further accelerate revenue growth into the double digit range for 2018, the company plans to further drive sales of differentiated products such as SunLike while also shifting more focus to its rapidly growing automotive lighting business.
About Seoul Semiconductor:
Seoul Semiconductor develops and commercializes light emitting diodes (LEDs) for automotive, general illumination, specialty lighting, and backlighting markets. As the fourth-largest LED manufacturer globally, Seoul Semiconductor holds more than 12,000 patents, offers a wide range of technologies, and mass produces innovative LED products such as SunLike – delivering the world’s best light quality in a next-generation LED enabling human-centric lighting optimized for circadian rhythms; Wicop – a simpler structured package-free LED which provides market leading color uniformity, cost savings at the fixture level with high lumen density and allows design flexibility; NanoDriver Series – World’s Smallest 24W DC LED Drivers; Acrich, the world's first high-voltage AC-driven LED technology developed in 2005, includes all AC LED-related technologies from chip to module and circuit fabrication, as well as multi-junction technology (MJT); and nPola, a new LED product based on GaN-substrate technology that achieves over ten times the output of conventional LEDs. UCD constitutes a high color gamut display which delivers over 90 % NTSC.
For more information about Seoul Semiconductor, please visit http://www.seoulsemicon.com
Wicop and Acrich are trademarks of Seoul Semiconductor Co., Ltd.
Investor information and additional product details are available on the company website, www.seoulsemiconductor.com
This press release material contains forward-looking statements which reflect Seoul Semiconductor’s current views with respect to future events and financial performance, which are subject to certain risks and uncertainties which could cause actual results to differ materially from those anticipated. Although Seoul Semiconductor believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be attained. Seoul Semiconductor undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. All financial figures are consolidated unless stated otherwise.
Seoul Semiconductor Europe GmbH
Tel: +49 (0)89 450 3690-0
Seoul Semiconductor Inc.
Tel: +1 (919) 410-9856
Seoul Semiconductor Co., Ltd
Tel: +82 070.4391.8270
Om Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
Manchester United Shoots for Success with a “Digital Experience Platform” Powered by HCL16.8.2018 19:02 | Pressemelding
Manchester United (NYSE:MANU) has today announced a major milestone on its digital transformation journey with HCL Technologies, with the successful launch of the Manchester United Official app powered by HCL’s digital experience platform. The launch is part of the ongoing digital transformation of the club to provide a real-time, engaging, personalized, and unified experience to Manchester United’s 659 million global followers, which supports the club’s strategy to become a Digital Sports Enterprise. At the heart of this transformation is the digital platform developed by HCL, providing the club with a single view of fans across web and app touchpoints, offering fans a one-stop shop for everything Manchester United. Manchester United’s Group Managing Director Richard Arnold comments: “This app will allow our 659 million Manchester United followers to easily connect to the club they love, wherever they are in the world. Fans will now have the opportunity to follow all Manchester United
4K 4Charity Fun Run Announces Open Registration for IBC201816.8.2018 17:41 | Pressemelding
AWS Elemental, an Amazon Web Services (AWS) company, today announced that the fifth annual 4K 4Charity Fun Run at IBC Show will take place at 7:00 a.m. local time on Saturday, Sept. 15 at Amstelpark in Amsterdam. Registration is open at https://4k4charity.com/ibc. Among the non-profits supported by the 4K 4Charity Fun Run at IBC Show is Amsterdam-based StichtingNewTechKids, which provides computer science education for girls, minorities, and economically challenged youth in the Netherlands. The organization supports a computer science teacher training program for primary school teachers with proceeds from 4K 4Charity. Also supported is Iridescent, a global education non-profit that empowers underrepresented young people to become innovators and leaders through engineering and technology. Through their two programs, Curiosity Machine AI Family Challenge and Technovation, Iridescent introduces underserved communities to new technologies and empowers and equips them to apply those technol
2018 D.I.C.E. Cannes Announced Round 3 Speakers16.8.2018 14:01 | Pressemelding
The Academy of Interactive Arts & Sciences’ D.I.C.E. Cannes event will take place 9-11 September 2018 at the Hotel Barrière Le Majestic Cannes in France. Leading video game executives will participate in the premier networking opportunities, listen to key speakers address the conference theme - Trailblazers - to tackle some of the industry’s biggest ideas and trends. Newly announced speakers include: Craig Duncan, Studio Head at Rare – Duncan will share his studio’s experience and learnings with “A Rare Voyage of Adventure.” Duncan will provide insight into Rare’s bold new IP Sea of Thieves, a game that has inspired friendships and players creating stories together. David Hubert, Animation and Cinematic Director at Eidos Montreal – In Hubert’s talk he will discuss how cinematics are redefining AAA story-driven games and how they will continue to shape the medium to push the envelope throughout the production process. Adam Orth – In a session titled “Digging for Fire: Virtual Reality 20
GN Hearing and Google Announce Partnership to Bring Direct Mobile Streaming from Android Devices to Hearing Aids16.8.2018 13:00 | Pressemelding
GN Hearing and Google have today announced a new technology partnership that will make GN Hearing the first manufacturer to enable a full spectrum of direct audio streaming from Android devices to hearing aids. The expectations are that direct streaming will become available to hearing aid users of the recently launched hearing aids ReSound LiNX Quattro™ and Beltone Amaze™ in a future Android release. “According to the World Health Organization, around 466 million people worldwide have disabling hearing loss. This number is expected to increase to 900 million people by the year 2050. Google is working with GN Hearing to create a new open specification for hearing aid streaming support on future versions of Android devices,” states Seang Chau, Vice President of Engineering at Google. Users will be able to connect and monitor their hearing aids, so they can get the full advantages of their Android devices without using an intermediate device for streaming to their hearing aids. This will
Zurich Expands Global Use of Guidewire InsurancePlatform with Selection of Guidewire Cyence Risk Analytics16.8.2018 12:55 | Pressemelding
Guidewire Software, Inc. (NYSE: GWRE), the provider of the industry platform Property and Casualty (P&C) insurers rely upon, today announced that Zurich Insurance Group (Zurich) has selected Guidewire Cyence™ Risk Analytics (Cyence) to leverage the cyber risk knowledge and insights the solution provides to help the company prospect, underwrite, and price risks. Zurich will roll out Cyence globally with an emphasis on enhanced analytics and intelligence for risk selection. Unprecedented technological advances of the 21st century have shifted the nature of risk across the P&C insurance industry. Ever-evolving cyber risks present unique challenges including limited availability of traditional actuarial data needed to model these risks. Cyence combines economic modeling, cybersecurity, machine learning and Internet scale data collection to help risk takers assess the financial impact of cyber risk. “After conducting a thorough search, we found that the capabilities of Guidewire Cyence Risk
Scientist.com Named One of America’s Ten Fastest-Growing Private Companies by Inc. Magazine16.8.2018 12:06 | Pressemelding
Scientist.com, the world’s leading marketplace for outsourced scientific services, today announced that it ranked no. 9 on Inc. magazine’s 2018 list of the 5,000 fastest-growing, privately owned companies in America. Scientist.com ranked no. 2 nationally in the Health category and no. 2 in the state of California. The San Diego-based company builds private marketplaces that connect life science research organizations with a global network of over 2,600 contract research organizations (CROs) and providers of scientific services. “Our mission is to empower and connect scientists worldwide and make it possible to cure all human diseases by 2050,” stated Kevin Lustig, Scientist.com’s CEO and Founder. “On Scientist.com, a single, highly trained scientist can run an entire drug discovery program from concept to clinic from his or her laptop without ever physically entering a laboratory.” The pharmaceutical industry spends about $150B a year on medical research and produces about 25 new medic