UPDATED. 2024-07-12 07:53 (금)
'Promising' fabless Fadu disappoints with financial results
'Promising' fabless Fadu disappoints with financial results
  • Noh Tae Min 기자
  • 승인 2023.11.10 15:36
  • 댓글 0
이 기사를 공유합니다

Combined Q2, Q3 revenue only 380 million won
Image: Fadu
Image: Fadu

Fadu, a South Korean fabless semiconductor company that some have called a ‘unicorn,’ has reported poor earnings for the second and third quarters this year.

The combined revenue from the two quarters was only 380 million won, or around US$280,000.

This is a shocking turn as its revenue last year when it went public was 56.4 billion won.

Meanwhile, it recorded 14.8 billion won in operating loss in the third quarter and 15.2 billion won in operating loss for the second quarter. Most losses came from SG&A expenses.

The only revenue Fadu earned during the quarters was from SSD module sales.

The fabless chip company relies on SSD controllers and SSD modules for its revenue.

It supplies controllers to SK Hynix and provides its SSD module to Meta and other customers.

This means during the second and third quarters, it didn’t supply SK Hynix with even a single unit of SSD controller.

Fadu’s earnings were likely impacted by cloud service providers lowering their spending in response to the global economic downturn.

The providers are focusing their spending on AI and other high-end areas for the time being.

Fadu CEO Jihyo Lee said the company was facing difficulty in the short term but claimed that it was laying the foundation this year for future growth.

The company said the enterprise SSD market faced delays from the drop in NAND prices and readjustment of data centers.

However, there were signs of a recovery and Fadu expects earnings to improve in 2024.

삭제한 댓글은 다시 복구할 수 없습니다.
그래도 삭제하시겠습니까?
댓글 0
계정을 선택하시면 로그인·계정인증을 통해
댓글을 남기실 수 있습니다.

  • 515, Nonhyeon-ro, Gangnam-gu, Seoul, Republic of Korea 4F, Ahsung Bldg.
  • 대표전화 : 82-2-2658-4707
  • 팩스 : 82-2-2659-4707
  • 청소년보호책임자 : Stan LEE
  • 법인명 : The Elec Inc.
  • 제호 : THE ELEC, Korea Electronics Industry Media
  • 등록번호 : 서울, 아05435
  • 등록일 : 2018-10-15
  • 발행일 : 2018-10-15
  • 발행인 : JY HAN
  • 편집인 : JY HAN
  • THE ELEC, Korea Electronics Industry Media Prohibiting unauthorized duplication,publishing,modification and distribution the material on this Site for any purpose.
  • Copyright © 2024 THE ELEC, Korea Electronics Industry Media. All rights reserved. mail to powerusr@thelec.kr