Seoul Semiconductor Proves Crisis-Resilient, Performing Better in Revenue Growth Than the Other Top 5
SEOUL, South Korea–(BUSINESS WIRE)– Seoul Semiconductor (KOSDAQ:046890), a global optical semiconductor company, ranked third in the category of visible light for the second consecutive year and first in the category of UV LED for the fifth consecutive year in the 2023 global rankings released by market research firm TrendForce. This is significant in that Seoul Semiconductor is the only one among the top 5 companies that has achieved organic growth relying solely on its best-in-industry optical semiconductor technologies.
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“2023 Global LED Lighting Market Analysis” released by TrendForce in March 2024 (Graphic: Seoul Semiconductor Co., Ltd.)
Behind this achievement lies the entrepreneurial spirit of Seoul Semiconductor, which has been committed to earning customer trust. Seoul Semiconductor incurred a huge loss as it maintained a safety stock worth USD 50 million, even during the COVID-19 pandemic, to deliver on its promises to customers. Nevertheless, it has not failed to supply 100% of committed orders to customers. Seoul Semiconductor’s consistent and responsible behavior has earned the trust of its customers. As a result, in 2023, even under the deteriorating economic conditions, Seoul Semiconductor was able to limit its growth decline to negative 8%, whereas other major companies in the industry were hit harder, experiencing a reversal to negative 13% on average. This is the result of Seoul Semiconductor’s perseverance in prioritizing customer trust above all else.
Under the vision of “Make the World Clean, Healthy and Beautiful with Light”, Seoul Semiconductor is running innovation centers in six countries and production bases in four countries to ensure stability in product supply to customers.
* Organic growth refers to the growth that a company achieves by enhancing its own competitiveness, such as technology development, without relying on external drivers, such as mergers and acquisitions (M&As).
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Contacts
Seoul Semiconductor Co., Ltd.
Jinseop Jung
jjs8732@seoulsemicon.com