UPDATED. 2024-06-14 08:17 (금)
Cammsys folds auto electronic device business
Cammsys folds auto electronic device business
  • Gijong Lee
  • 승인 2019.09.03 16:44
  • 댓글 0
이 기사를 공유합니다

R&D, gov’t-commissioned projects to keep running
Cammsys HQ
Cammsys HQ

South Korean camera module maker Cammsys has shut down its automobile electronic devices business that it has been working on over the past six years due to accumulating deficit.

Cammsys shuttered the business involving automobile camera modules, black boxes and front and rearview cameras, according to those close to the matter on Sept. 2.

“We reached the conclusion that it would be difficult to improve the bottom line of the auto electronic device division, and felt we need to balance out our resources,” said one Cammsys official. “Our focus is on smartphone camera modules, which account for most of our revenues, along with electric vehicles, our new area of growth.” Cammsys is also looking into areas such as biometric recognition and data security.

Last year, Cammsys’ auto electronic device business recorded 4.9 billion won of sales and an operating deficit of 8.9 billion won. Sales accounted for just 1% of the firm’s total revenues of around 544 billion won. The same year, the equipment operating ratio of the division stood at a mere 20%. In 2017, this same division logged 5 billion won of revenues and an operating deficit of 6.6 billion won.

Cammsys added, however, that despite folding the business, it would continue to invest in R&D. The firm also plans to stay involved in government-commissioned research projects. “The sales unit has been disassembled, but the R&D personnel has been simply relocated to the smartphone camera module and EV division,” said the official.

Cammsys is launching its super-mini EV, the CEVO-C, in the latter half of this year. Preorders reached 3,027 units. The firm is now preparing to launch more CEVO retail stores across the country.

Meanwhile, Cammsys’ profit in the first half of this year surged as Samsung began to apply more multi-cameras to its Galaxy smartphones. Revenues in 1H jumped 59.2% on-year to 354 billion won, while operating profit surged 235.6% to 18.6 billion won.

The Elec is South Korea’s No.1 tech news platform.

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