Koh Young Technology Reports Record-Breaking Q3 Revenues2018-11-12
Seoul, South Korea – Koh Young Technology, the industry’s leading 3D measurement and inspection company, announced a record-breaking third quarter during 2018 with 25.5 percent year-over-year (YoY) growth. A focus on helping customers realize the value behind a Smart Factory underpinned Koh Young’s leadership position as the preferred inspection partner with more than 2,200 customers.
Steadily growing business with ever-faster machine delivery
Koh Young’s business has been steadily growing year after year. It has been the global SPI leader for 11 straight years with a market share of nearly 54 percent. Not only has the SPI sales revenue grown, but the company has delivered more system faster than before. While it took six years to deliver the first 1,000 inspection systems, it only took three months to move from 12,000 to 13,000 installations. In fact, Koh Young delivered a Zenith 2 Automatic Optical Inspection (AOI) to wenglor sensoric GmbH in Germany, representing the 13,000th inspection system installation. Apart from numbers, there are other notable growth signs from this quarter.
Accelerating 3D AOI portfolio
With AOI playing an increasingly important role in electronics manufacturing, the AOI market has growing. According to IPC, the quarter ended with 31.3 percent quarter-on-quarter growth. Koh Young has also experienced tremendous 3D AOI growth – far beyond the market growth rate. Its flagship Zenith 3D AOI is still the crown jewel for the company. It has steadily expanded its global market acceptance with a healthy mix of new customers and recurring revenue. Building on the Zenith Series success, though, Koh Young recently unveiled its next-generation Zenith 2 3D AOI. The new system expands on Zenith capabilities by adding side view solutions and an increased component height range to enhance defect identification capabilities.
Growing market momentum in Southeast Asia
Southeast Asia business continue to be robust, increasing over 160 percent year-on-year. We attribute this market strength, in part, to multinational manufacturers relocating electronic assembly to ASEAN countries like Cambodia, Indonesia, Malaysia, Myanmar, Philippines, and Thailand. For instance, Malaysia’s electronics industry has nearly 1,700 companies combined for a USD 35.5 billion total investment with a 600,000+ workforce. Koh Young is committed to offering an unsurpassed user experience that will help successfully deliver our services to these manufacturers.
As we turn to the next quarter, Koh Young Technology will participate in multiple exhibitions to showcase its technology advancements to the market. Koh Young will display its latest innovations at the upcoming SMTA Guadalajara (14-15 November 2018 at Expo Guadalajara in Mexico) and Electronica (13-16 November 2018 at Messe München in Germany). We welcome show attendees to visit us and understand why so many manufacturers turn to Koh Young for inspection challenges. If you cannot attend the shows, you can learn more about Koh Young and its best-in-class inspection solutions at www.kohyoung.com.