Sitronix Technology Corp. aims to boost its annual revenue by at least 10% in 2024, banking on its innovative zero-capacitor touch display technology to break into the mainstream smartphone market.
The Taiwanese display driver IC maker sees an opportunity in the 500-million unit smartphone market, where it previously had no presence. The company told investors its zero-capacitor technology significantly reduces panel module costs and enables thinner bezels, with volume shipments expected to start in the first half of 2024.
Sitronix reported NT$16.26 billion ($520 million) in revenue for the first 11 months of 2023, up 6.61% from a year earlier. The company’s earnings per share reached NT$11.92 for the first three quarters, supported by steady automotive sector demand and recovering mobile sensing orders.
While consumer electronics demand remains sluggish, the company expects new product launches across multiple segments to drive growth. The automotive division, though starting from a low base, continues to expand with higher-margin original equipment sales increasing their share of revenue.
Management indicated a shift to a more defensive strategy for 2024, focusing on integrating previously separate chips into comprehensive solutions for clients in the wearables and industrial control sectors.
