Chips&Media sees Q3 profit rise 25%

Semiconductor IP company Chips&Media saw its operating profits rise 25% year over year in the third quarter of 2020.

The company said it posted 1.3 billion won in operating profits and 4.8 billion won in sales in the quarter.

The company secured a new US client __ which is one of the top ten semiconductor companies in the world __ in the third quarter, it said.

Its licensing business in China also contributed to profits, it said.

Its super resolution IP __ which uses artificial intelligence technology to increase resolution of videos, or upscaling __ also contributed to sales for the first time. They can increase it up to 8K resolution at 60 frames per second.

However, due to the COVID-19 pandemic, its licensing business outside of China are yet to return to normal, Chips&Media added.