UPDATED. 2021-02-26 22:24 (금)
LG InnoTek posts 43% higher profits in 2020
LG InnoTek posts 43% higher profits in 2020
  • Gi Jong Lee
  • 승인 2021.01.26 15:39
  • 댓글 0
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Thanks to iPhone camera modules
Image: Apple
Image: Apple

LG InnoTek said on Tuesday that it has posted 681 billion won in operating income 2020.

This is 43% higher than in 2019.

Operating income was focused on the fourth quarter, in which the company posted 342.3 billion won, a rise of 37.9% from the same time period a year ago. Sales in the quarter was 9.54 trillion won, a rise of 19.6% year-on-year.

LG InnoTek was the exclusive supplier of the triple camera and 3D Time of Flight module on iPhone 12 Pro and iPhone 12 Pro Max. Apple launched its iPhone 12 series of smartphones in October.

The South Korean component maker also supplied the camera modules for the 2020-model iPhone SE.

LG InnoTek’s optical solution business, which makes camera module, posted sales of 3 trillion won in the fourth quarter, a rise of 36% from 2019. The business posted 6.77 trillion won for the full year of 2020, a rise of 24.9% from 2019.

The company’s substrate and material business posted 339.6 billion won in sales in the quarter, a rise of 19% from 2019. LG InnoTek said demand from 5G telecom semiconductor boards, chip on film for displays and photomasks led the growth. The business posted 1.24 trillion won in sales in total for 2020, a rise of 10.5% from 2019.

LG InnoTek’s auto component business posted 342.9 billion won in sales in the fourth quarter, a rise of 14% from the same time period a year ago. Sales in the quarter was 1.18 trillion won, an increase of 4.9% from the previous year. Motor, lamp modules and power modules all saw balanced growth, the company said.
 


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