Memory module house Team Group saw its net profit jump more than tenfold on year to NT$141 million (US$5 million) in 2020, with revenue hitting a record high of NT$7.5 billion. EPS for the year came to NT$2.06.
Team Group credited the positive performance to a substantial pick-up in demand for notebooks and PCs enabling remote work and education, and other stay-at-home needs amid the coronavirus pandemic.
Besides, Team Group's closer ties with e-commerce operators enabled the memory module firm to grow its brand awareness and boost sales in 2020, the Taiwan-based company indicated.
Looking into 2021, Team Group will put increased focus on industrial products while further expanding its businesses with system integrators and OEM firms. Market conditions will also be favorable to the memory module maker, it said.
In addition, Team Group disclosed it has delivered DDR5 overclocking memory samples to major motherboard makers for validation, striving to further boost sales of its high-ASP products this year.