ITM to build 5th factory for battery protection IC in Vietnam
To beet rising demand from wireless earphones
ITM Semiconductor said on Monday that it will invest 54.8 billion won to built its fifth factory for battery protective circuit in Vietnam.
The company wrapped up construction of its fourth factory there only third months ago.
ITM Semiconductor said it was expanding its production capacity to meet increased number of orders for its battery protective circuits.
People familiar with the matter said the company is likely securing volume to supply the circuits to Apple for their new AirPods launching in 2021.
ITM Semiconductor is also seeing demand increase from notebooks, wireless cleaners and other electronic devices.
The fifth factory will be built in 22,453 square-meter of space. It will be built new the four other factories at VISP Bac Ninh.
ITM Semiconductor currently has a production capacity of between 130 million to 140 million circuit per month.
The company is aiming for sales of 900 billion won in 2022. This will be over double that of its expected full year sales of 400 billion won this year.
ITM Semiconductors makes protection module package __ which combines the protection IC, MOSFET and printed circuit board together.
The company is also aiming to expand into circuits and packs for larger batteries used in electric cars and energy storage systems.
It is also an original design manufacturer for e-cigarettes.