Q Tech posts strong results for 1H20

China-based camera module maker Q Technology has reported strong results for first-half 2020 and is seeking to maintain its competitiveness by deepening its development for 3D ToF and RGB camera modules.

The company posted revenues of CNY8.802 billion (US$1.274 billion) in the first half, up 73.9% on year, and the figures were the company’s highest level for the same six-month period. ASPs reached CNY42.80 compared to CNY21.50 a year earlier, while net profits were up 85.5% on year to CNY336 million.

The strong results came despite total camera module shipments edging down 1.3% on year to 180 million units, according to company sources.

Increasing penetration of multi-lens and 3D camera modules, and optical in-display fingerprint sensing modules has helped the company maintain its shipment momentum and profit levels in the first half, said the sources.

In first-half 2020, shipments of 10-megapixel and above camera modules increased 26.7pp to 73.5%, while fingerprint sensing modules were up 5.8% on year to 39.93 million units, they noted.

Having begun ramping up production of 64- and 108-megapixel camera modules, Q Tech is currently developing 3D ToF and RGB modules in cooperation with Taiwan-based Newmax Technology, indicated the sources, noting that the 3D ToF modules can be used in VR/AR/MR, IoT, drone and security surveillance applications.