SoluM wins 550 billion won worth of ESL orders in Q4
Company signs 3-year contracts with European and Japanese distributors
SoluM said on Wednesday that it has won 550 billion won worth of orders for electronic shelf labels (ESL) in the fourth quarter.
The Korean electronics component maker said it expects its ESL business hit its highest sales ever in 2021.
SoluM said it has signed three-year contracts for its Newton ESLs with two European distributors and one European distributor. Combined they are worth 550 billion won, the company said.
SoluM has previously said it aims to become the world’s top vendor in ESL. Currently, France-based SES Imagotag, acquired by China’s BOE in 2019, it the world’s top vendor. Sweden’s Pricer is the runner-up and SoluM is ranked third.
The Korean company is however the top vendor in the North America and South Korea.
ESL was in high demand from offline stores that are seeking to react faster to price changes of products due to competition from online sales, which increased from the pandemic last year, SoluM said.
Newton has fast update speed and long-lasting battery which is making it a possible choice for customers, the company added. SoluM will also offer ESLs to retailers, it said.