Samsung Electro-Mechanics said on Wednesday that it has recorded 2.37 trillion won in sales and 331.5 billion won in operating income for the first quarter.
It is an increase of 11% and 99%, respectively, from a year ago.
The figures are slightly above South Korean analysts’ consensus of 2.34 trillion won in sales and 320 billion won in operating income.
Samsung Electro-Mechanics said it saw sales increase for its high-value products such as multi layer ceramic capacitors (MLCC) and semiconductor package substrates. Remote work culture increased demand from the IT sector, the company said.
Supply of MLCC for automobiles increased from the recovery in the automobile market, as well as those for camera modules, the company added.
The component business recorded 1.08 trillion won in sales, an increase of 27% from a year prior. MLCC led this growth.
Module business saw a 6% decline in sales, recording 841.3 billion won. The earlier than usual launch the Galaxy S21 smartphone by its customer Samsung Electronics caused the firm to supply camera modules in the fourth quarter which caused the decline, Samsung Electro-Mechanics said.
The board business saw a 15% jump in sales, recording 442.2 billion won. Package substrates for mobile AP and PC CPU increased during the quarter. Its board supply for OLED panels to Apple declined due to seasonality, the firm said.
Samsung Electro-Mechanics is expecting continued demand for its components from the IT and automobile sectors in the second quarter.
It expected demand for its boards to increase from the expansion of 5G and the growth in the PC market.
The company is planning to supply camera modules for Galaxy A52, A72 and A22 this year.