Seoul Viosys posts record Q1 sales

Seoul Viosys said on Tuesday in its preliminary guidance that it recorded 121.2 billion won in sales in the first quarter of 2021.

This is 39% higher than a year prior and the firm’s highest first quarter sales figure.

Seoul Viosys said it enjoyed high demand for its ultraviolet (UV) LED from disinfectant home appliances and cars following the initial stages of the COVID-19 pandemic.

Both sales and profitability jumped in the quarter, the firm said.

Its Wicop technology, in which LED chips are installed on substrates without packaging, was leading the growth.

The firm has also begun manufacturing MicroLED pixels. It was also supplying its 25Gbps laser diode for short-distance communication called VCSEL to three customers.

Seoul Viosys said its Wicop technolgoy was necessary for the production of MiniLEDs.

The company is expecting record sales for its annual earning in 2021, a company spokesperson said.

Last month, the company announced a 10 billion won share buyback program. In 2020, it announced that it will increase its dividend payout ratio from the previous mid-20% to 50% for the next three years.