China-based camera module maker O-film Tech has reported net profit of CNY360 million (US$51.9 million) for second-quarter 2020, up 156% sequentially and 30.1% on year, driven by robust sales of its camera module and 3D sensor products.
Its net profit surged nearly 23-fold on year to CNY502 million in the first half of 2020, although revenues were down 0.53% to CNY23.465 billion.
Market observers attributed O-film’s whopping earnings growth in the first half to increased shipments of camera modules for iPhone devices.
Shipments of camera modules to non-Android phone clients increased 30.34% on year to 55 million units in the January-June period valued at CNY3.673 billion, up 95.95%, according to company data.
O-film’s shipments of 3D sensors during the same period soared 80% to 44 million units, valued at CNY1.763 billion, increasing 79.83% on year thanks to increasing adoption of 3D sensing technology by Android phone makers.
O-film plans to launch a CNY6.758 billion capacity expansion project, with CNY2.364 billion of the sum for high-resolution camera modules.