Q Technology’s August camera module sales tumble on weak smartphone demand

Camera module maker Q Technology (Group) Co. Ltd. (1478.HK) announced on Thursday that sales of its camera modules for mobile products fell 14.9% year-on-year to 37.85 million units in August. Sales of its biological recognition modules for the month totaled about 13.31 million units, up 25% from July but down 35.3% from a year earlier. Overall sales of mobile products dropped 21.3% year-on-year to about 51.15 million units.

The company blamed the year-on-year decline in mobile product sales on weak smartphone demand amid rising memory prices. By comparison, automotive and internet of things (IoT) products performed better, with August sales reaching about 890,000 units and 2.37 million units, respectively, up 33% and 20.7% year-on-year. The gains were mainly driven by a significant increase in sales of LiDAR products used in smart vehicles and embodied robots, as well as satisfactory sales of products used in handheld imaging terminals.

Q Technology sold about 423.5 million units of mobile products in the first eight months of the year, 5.72 million units of automotive products and 12.94 million units of IoT products. Its India unit sold about 10.3 million camera modules in August, up 130.4% year-on-year, while sales of biological recognition modules fell 39.4% to about 1.69 million units.

Shares of Q Technology opened lower on Friday and traded at HK$5.46 by the midday break, down 2.06%. The stock is down about 34% over the past six months.

By Lee Shih Ta

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