By Clarence Leong
Sunny Optical Technology Group Co.'s first-half net profit rose 54% to 2.69 billion yuan ($415.5 million), thanks to increased shipments of handset lens, camera modules and vehicle lens.
The Chinese company said late Monday that revenue for the period grew 5.1% to CNY19.83 billion, while the gross profit margin widened more than 5 percentage points to 24.9%. Sunny Optical said revenue gains from higher shipment volumes were partly offset by poor sales performance of high-end smartphone models, which caused a significant drop in selling prices of handset camera modules.
Looking ahead, Sunny Optical said it still faces challenges from increasing competition amid a volatile political and economic situation. But an improvement in camera functions "remains the key product differentiation in the smartphone industry," the company said, and it aims to further strengthen research and development investment in new technologies and materials.
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(END) Dow Jones Newswires