IL SCIENCE is set to target the automobile market. It secures stable sales in silicon lens-based light-emitting diode (LED) and hair care businesses and is growing new electric field businesses as future growth engines. IL SCIENCE is expected to surpass KRW 100 billion in sales for the first time this year.
Since its foundation in 2008, IL SCIENCE has introduced various LED solutions such as solar lighting, LED indoor lighting, and LED outdoor and landscape lighting. In particular, it drew attention from the industry as the world's first silicon lens developed in 2015. Replacing the lens material with silicon can reduce manufacturing costs and increase light efficiency.
IL SCIENCE has recently been working hard on a new silicon lens-based electric equipment business. Silicon LED lenses are mainly mounted on automobile headlights. As vehicles become intelligent and lighter, silicon lens preference continues to increase. Silicon lenses are lighter than conventional glass lenses and are resistant to heat, making them suitable for vehicles. It is durable even in case of impact. IL SCIENCE is a partner of Hyundai Mobis.
According to the industry, IL SCIENCE is testing silicon lens products for multi-beam headlamps to supply to Hyundai Mobis. Supply is expected to begin as early as the first half of this year. In addition, it is known that it is promoting various projects with the aim of final supply of various finished cars.
IL SCIENCE acquired a stake in iTRONICS, a next-generation intelligent transportation system (C-ITS) company, last year to secure expertise in the future auto industry. There is also a possibility that markets will expand by securing technology for electric vehicle charging smart streetlights.
According to Omdia, the size of the LED market for vehicles is expected to grow by 20% every year, and the adoption rate of LED lighting is expected to expand from 35% last year to 72% in 2024.
IL SCIENCE aims to surpass KRW 100 billion in annual sales this year by securing stable sales of its flagship business and growing new businesses. It is predicted that IL SCIENCE sales recorded KRW 50.1 billion and KRW 2.7 billion in operating profit last year. It is expected to record sales of KRW 100.7 billion and an operating profit of KRW 9.8 billion this year.
By Staff Reporter So-ra Park (email@example.com)