LG Innotek announced that its operating profit for the second quarter of this year reached 245.8 billion won, a staggering 2057% increase compared to the same period last year.
Sales rose 41% year-on-year to 5.5272 trillion won, marking the highest quarterly figure in the company's history. Combined with first-quarter results, the total sales for the first half of the year reached 11.0621 trillion won, surpassing the 10 trillion won mark for the first time.
A company official stated, "Despite the seasonal off-peak period, strong demand for mobile camera modules continued from the first quarter, and the supply of high-value semiconductor substrates such as RF-SiP, FC-CSP, and FC-BGA remains robust. Additionally, sales of mobility components, including vehicle cameras, communication, and lighting modules, contributed to revenue growth."
LG Innotek is strengthening its high-profit business portfolio. The company is focusing on its core businesses, including optics and packaging, while also developing physical AI sectors such as autonomous driving and robotics. It is particularly emphasizing the expansion of its packaging solutions business, which has high profitability and growth potential.
Chief Financial Officer Kyung Eun-guk noted, "In response to the surging demand amid a semiconductor boom, we have begun expanding our semiconductor substrate production facility in Vietnam and are considering additional investments. We aim to solidify the packaging solutions business as a core area through increased capital expenditures, differentiated technologies like Cu-post, and the application of AI in production processes."
The optical solutions business recorded sales of 4.5179 trillion won, a 48% increase from the previous year. Strong demand for high-value camera modules for mobile devices persisted even during the off-peak season, and vehicle camera sales increased due to new model supplies to major clients.
Sales in the packaging solutions business rose 20% year-on-year to 498.4 billion won. The demand for high-value substrates drove strong sales of semiconductor substrates like RF-SiP and FC-CSP, while FC-BGA also contributed to improved performance with increased product supply to global clients.
The mobility solutions business recorded sales of 510.9 billion won, a 10% increase compared to the previous year. Sales across all mobility component categories grew steadily, particularly for high-value vehicle lighting and communication modules. The mobility business aims to enhance profitability through an increased share of high-value products and resource efficiency while promoting revenue growth with new ventures such as vehicle AP modules.
* This article has been translated by AI.
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