Beyond Eye, a subsidiary of Witz, announced on the 25th that it has completed the acquisition of Beacon I&C's display business division.
Beacon I&C, a company that supplies home appliance display modules to LG Electronics, has recorded sales of over 50 billion won annually since 2020 and is expected to reach 56.2 billion won in sales in 2024.
Witz previously announced in July that its subsidiary Beyond I&C had decided to acquire Beacon I&C's display business division, and the company said it finalized the acquisition after reviewing the necessary parts for the integration process.
Through this acquisition, Beyondi plans to focus on operating its home appliance display business and expanding its portfolio, as previously planned. In particular, as the acquired display division supplies home appliance electronic products to LG Electronics, Beyondi is expected to secure stable revenue from LG Electronics through continued production and supply.
The company also said that in addition to securing stable sales, it is significant in that it has secured a supply chain for home appliance displays for LG Electronics and can strengthen its market competitiveness through supply experience.
A Beyond-I official said, “We are looking forward to future growth as we can now expand our business from our core business of battlefield camera modules to home appliance displays and battlefield displays,” and added, “In addition to simply expanding our business, we plan to secure profitability by seeking ways to strengthen cost competitiveness by utilizing the production facilities of WITS VINA, the Vietnamese production base of our parent company, WITS.”
A Witz official said, “We believe that the expansion of our subsidiary’s business will provide more opportunities for both companies to create synergy,” and “Beyond Eye’s increased sales will also affect our performance, so we will work closely together to further expand our market dominance.”
- See more related articles
You must be logged in to post a comment.