FitTech Expects Revenue Growth in 2021 with Booming Mini LED Applications

Update:21-08-2020
Summary:

LED testing and sorting equipment manufacturer FitTech […]

LED testing and sorting equipment manufacturer FitTech held investor conference yesterday (August 20, 2020) and announced that in order to meet the demand of Mini LED chip process from its clients, the company will expand its capacity in 4Q20. The expansion is expected to finish in the second quarter of 2021 and will be a major growing momentum for FitTech.

(Image: FitTech)Being part of the Mini LED backlight technology supply chain, FitTech provides LED testing equipment for Epistar, who is known for the major Mini LED chip supplier for Apple’s Mini LED products. As Epistar aims to raise its Mini LED product shipment in the fourth quarter of 2020, its demands for chip testing surge.

As a result, FitTech is increasing its capacity to fulfill the needs of Epistar. Currently FitTech has about 200 units of testing tool with monthly capacity of 3 billion LED chips. The company aims to add up to 1000 units for the upcoming Mini LED waves and expect that revenue coming from the business will grow about two to three times more.

The business performance of FitTech was impacted by the COVID-19 pandemic as many of its LED clients postponed their original plan. FitTech sees that its revenue will reach the bottom in 3Q20 and bounce back in the fourth quarter of 2020. The company sees a bright future of Mini LED display and expects that related applications such as Mini LED backlit TVs will continue to boom driven by the trend led by leading brands.