Camera Lens Shipment to Apple to Fuel Largan's Q2 Revenues

Taipei, May 15, 2008 (CENS)--Largen Precision Co., a leading Taiwanese maker of camera lenses, has started shipping the products for second-version iPhones to Apple Inc. and the shipment is expected to make the company's second-quarter revenues to surge from the first quarter of this year, according to company sources.

Besides, upcoming shipment to Apple and Nokia are also expected to further push up Largen's sales revenue in the third quarter of the year. Scott Lin, chairman of Largen, is quite optimistic about his company's business prospects for this year, saying the year's profits are expected to exceed last year's.

Apple is scheduled to launch its second-version iPhone in North America, Europe and Asia starting this June, and projects sales of the products to reach up to 5 million units in June and July. To match Apple's promotion timetable, contract suppliers of components and parts for iPhone have all started delivery to the brand since early May and will most likely see their shipment sharply increase in June.

In addition to Apple, Largen has landed new orders for camera lenses from Nokia this year. Worth mentioning is that at present Nokia and Motorola are both Largen's largest clients and contribute about 30% each to the company's sales revenue in the year. In 2007, Largen posted higher-than-expected sales revenue of NT$5.582 billion and net profits of NT$2.569 billion, or NT$20.44 per share.

Largen reported combined revenuesof NT$616 million for April and aggregate revenue of NT$2.328 billion for the first four months of this year, respectively up 45% and 32% from a year earlier. Largen's spokesman indicated that despite a seasonal recession in the second quarter, the company still succeeded in maintaining its single-month revenue at a level of over NT$600 million in the quarter.