Genius Electronic Optical (GSEO) will supply lens modules for VR head-mounted devices, to be launched by Apple in 2023, with shipments to begin in February-March 2023, according to GSEO's supply chain makers.
GSEO is a supplier of iPhone lens modules, with the corresponding sales revenues taking up 60-70% of consolidated revenues.
According to IDC, there will be 23.4 million VR/AR devices shipped globally in 2023, increasing over 40% on year.
GSEO has increased R&D expenses, with the expenses as a percentage of consolidated revenues rising from 11-14% in the past to 21% for the first half of 2022.
GSEO has five factories in Xiamen, southeastern China, and one in Taiwan, with the former focusing on production of smartphone lens modules and the latter on that of LED flashes, VR lens modules and lenses for camera sensors. The five factories in Xiamen have about 10,000 employees in total at present, while the factory in Taiwan has about 1,000.
Taiwan-based Best Precision Industrial has started production of precision optical mold cores for making VR-use optical lenses, according to company chairman Chen Po-chi.
GSEO has reported consolidated revenues of NT$1.457 billion (US$47.8 million) for December, decreasing 26.36% on month and 20.97% on year, those of NT$5.750 billion for the fourth quarter of 2022, slipping 20.29% on quarter but increasing 0.27% on year, and those of NT$19.220 billion for 2022, growing 14.75% on year.
Best Precision had consolidated revenues of NT$82.2 million for December rising 8.34% on month and 52.14% on year, those of NT$221.0 million for the fourth quarter dropping 21.87% sequentially but increasing 42.00% on year, those of NT$988.6 million for 2022 growing 5.35% on year.
Article translated by Adam Hwang
