South Korea’s LG Innotek reports historic first-half sales to a single client, likely Apple, amid rising demand for AI and smartphone components, signalling a significant shift in the electronics supply chain.
LG Innotek has logged a record first-half tally from a single customer, with sales tied to one buyer reaching 8.84 trillion won, or $6.24 billion, in the January-to-June period, according to its half-year report released on Friday. The company did not name the client, but the scale and the mix of businesses involved point strongly to Apple, which has long relied on LG Innotek for camera modules and substrates used in iPhones.
The figure was the highest ever recorded by the South Korean component maker for first-half sales to one customer. LG Innotek said the revenue came from its optical and package businesses, a sign that demand remained firm across the parts of its portfolio most closely linked to Apple devices.
The result also fits with reports that LG Innotek has been benefiting from a broader pickup in demand for semiconductor substrates used in artificial intelligence servers. The Chosun Biz reported in July that first-half sales surpassed 10 trillion won and that second-quarter revenue also set a new peak, extending the company’s earnings momentum.
Analysts have also turned more positive on the company’s outlook. Daishin Securities raised its target price in June, citing improved profitability in optical solutions and growth in the semiconductor substrate business, helped by stronger iPhone demand. Separate reporting from TechTimes said LG Innotek is seeking more U.S. AI chip customers, as it expands further into advanced packaging and the American supply chain.
The strength is part of a wider improvement across the LG electronics group. LG Electronics said in preliminary second-quarter results that its consolidated revenue and operating profit both reached the highest levels for the period in the company’s history, suggesting that demand across the group’s hardware businesses has stayed resilient.
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