Para Light expects sales from Xiaomi to grow

LED packaging service provider Para Light Electronics has become a supply chain partner for Xiaomi, with the China-based vendor's orders in first-half 2018 taking up 12% of its consolidated revenues, according to company chairman and CEO David Ma.

Para Light has been shipping LED applications for many of Xiaomi's products since 2014, Ma said, adding that as shipments of LED devices used in Xiaomi's smart speakers will significantly increase, the revenue proportion for the client is expected to rise in second-half 2018.

Para Light began development of LED lighting modules used in notebooks for HP and Dell in 2014 and has begun large-volume shipments to Dell. Para Light also started shipments of such modules to China-based notebook vendor Lenovo in April 2018. Para Light expects sales for such LED lighting modules to increase from NT$50 million (US$1.7 million) in 2017 to NT$125 million in 2018 and to double or even triple the 2018 level in 2019.

The New Taipei-headquartered Para Light has set up two factories, one with total floor space of 1,520 square meters and the other with 20,256 square meters, in eastern China.

Para Light posted consolidated revenues of NT$730.9 million, gross margin of 25.70%, net operating profit of NT$41.6 million, net profit of NT$18.7 million and net EPS of NT$0.16 for first-half 2018. Of the revenues, 42.1% came from SMD LED devices, 32.4% from LED lamps, 18.6% from LED displays and backlighting, 4.6% from LED lighting.