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LET Earnings Report for 2020 Reveals Samsung Sold 2.5m Z Fold and Z Flips, 50% of Target
Earnings of South Korea’s Leading Edge Technology (LET) in 2021 depends how many foldable smartphones Samsung can ship. LET is Samsung Display’s exclusive supplier of laminations, used to stack UTG as cover lens on the foldable panels. The company began supplying them to Samsung Display last year. But Samsung bought less units then expected as Samsung Electronics, which didn’t meet their forecasts. LET only accrued 1.6 billion won in sales last year up to the third quarter. Their annual sales are expected to be lower than in 2019, when the company recorded 2.8 billion won in sales.
If Samsung shipped as many Galaxy Z Flip and Galaxy Z Fold 2 as it targeted, LET would have seen its sales jump. Samsung expected to ship between 4.5 million units and 5 million units of foldable smartphones last year, but it only sold around 2.5 million units. Besides the laminators, LET also supplies bending protector layer systems and cover resin dispensers for the ultra-thin glasses. LET, which is listed on KOSDAQ last year, recorded 1.7 billion won in operating loss in 2020. Its sales also declined 55% Y/Y to 21 billion won.
Besides ultra-thin glasses, the company is also betting on Samsung to expand sales of regular smartphones with fingerprint on display sensors. LET supplies fingerprint on display (FoD) laminators, used to attach the fingerprint reader onto the OLED panel. Prior to its listing, LET touted its position as the exclusive supplier of FoD laminators for the Galaxy S20 smartphone series, but the phones also sold less than expected. LET is currently developing a laminator that attached FoD to the whole screen surface of smartphones. Most smartphones with FoD only uses some portions of the bottom of the screen.
The company is also developing a dispenser using inkjet head, which can be used as optical clear resin dispenser. They are used to attach various films on the panel using adhesive resin instead of adhesive films. LET was formed by ex-LG researcher Lee Heung-keun in 2001. The company manufactures equipment for OLED and liquid crystal display production. It is based at Asan and has 76 employees. Display inspection equipment company HB Technology owns a 30.88% stake in the company.
Earnings of South Korea’s Leading Edge Technology (LET) in 2021 depends how many foldable smartphones Samsung can ship. LET is Samsung Display’s exclusive supplier of laminations, used to stack UTG as cover lens on the foldable panels. The company began supplying them to Samsung Display last year. But Samsung bought less units then expected as Samsung Electronics, which didn’t meet their forecasts. LET only accrued 1.6 billion won in sales last year up to the third quarter. Their annual sales are expected to be lower than in 2019, when the company recorded 2.8 billion won in sales.
If Samsung shipped as many Galaxy Z Flip and Galaxy Z Fold 2 as it targeted, LET would have seen its sales jump. Samsung expected to ship between 4.5 million units and 5 million units of foldable smartphones last year, but it only sold around 2.5 million units. Besides the laminators, LET also supplies bending protector layer systems and cover resin dispensers for the ultra-thin glasses. LET, which is listed on KOSDAQ last year, recorded 1.7 billion won in operating loss in 2020. Its sales also declined 55% Y/Y to 21 billion won.
Besides ultra-thin glasses, the company is also betting on Samsung to expand sales of regular smartphones with fingerprint on display sensors. LET supplies fingerprint on display (FoD) laminators, used to attach the fingerprint reader onto the OLED panel. Prior to its listing, LET touted its position as the exclusive supplier of FoD laminators for the Galaxy S20 smartphone series, but the phones also sold less than expected. LET is currently developing a laminator that attached FoD to the whole screen surface of smartphones. Most smartphones with FoD only uses some portions of the bottom of the screen.
The company is also developing a dispenser using inkjet head, which can be used as optical clear resin dispenser. They are used to attach various films on the panel using adhesive resin instead of adhesive films. LET was formed by ex-LG researcher Lee Heung-keun in 2001. The company manufactures equipment for OLED and liquid crystal display production. It is based at Asan and has 76 employees. Display inspection equipment company HB Technology owns a 30.88% stake in the company.
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