Lens Technology has added 3.9 billion to increase the “Metaverse” AR/VR business

The growth prospects of the smart wearable market such as AR/VR are promising.

On the morning of April 7, Lens Technology disclosed the “Announcement on Changing the Use of Some Raised Funds”, and planned to increase the total investment of the “Changsha (II) Park Smart Wearable and Touch Panel Construction Project” from the original 1.515 billion yuan to 5.406 billion yuan. The announcement shows that the project is expected to be completed and reach production by the end of 2024.

Lens Technology said that this change in the use of some of the raised funds is that the company actively optimizes resource allocation, improves the use efficiency of raised funds, and continues to optimize in order to keep up with the future development trend of the industry in accordance with changes in the external environment, combined with the company’s strategic planning and actual business needs. Prudent decisions made on core financial metrics.

Regarding the construction project of smart wearable and touch-sensitive panels in Changsha (II) Park, which is a large-scale increase of 3.9 billion yuan, Lens Technology responded in the announcement, “It is expected that the existing production capacity will not be able to meet customer needs, and the smart wearable business is expected to become an important part of the company’s future. business growth point”.

Lens Technology has already started AR/VR business

It is understood that Lens Technology started the research and development and expansion of technologies and products in the field of AR/VR products five years ago. It is one of the earliest companies in the industry to develop and innovate optical, structural and functional modules , with mass-produced products on the ground, with rich technical reserves and global high-quality customer resources.

According to feedback from industry insiders, Lens Technology has established an AR/VR research and business department to strengthen research in the fields of acoustics and optics and the design of functional modules, and has gained support from core customers.

At present, Lens Technology’s main products in the smart wearable device business field include: glass protective cover, sapphire protective cover, sapphire and ceramic sensor components, ceramic casings and components, touch display modules, metal components and plastic components, etc. , and can provide supporting services such as component lamination and assembly.

According to the Investor Relations activity record sheet disclosed in February this year, Lens Technology continues to participate in smart watches and AR/VR projects of various customers; in the AR business, glass lenses are more difficult and challenging, and their value is higher; The demand for smart watches will increase, and it is necessary to expand production capacity in advance. According to Lens Technology, the smart wearable business can achieve rapid growth in 2022.

At present, Lens Technology’s business scope has formed three major tracks of consumer electronics, new energy vehicles, and photovoltaics. This time Lens Technology has also adjusted and refined its business scope and refined the company’s track product range, reflecting Lens Technology’s products. Comprehensiveness and innovative advantages in layout. The downstream segment is booming, and the market demand is still growing rapidly, and it is far from being fully satisfied. It can be seen that the future space is still huge.

The growth prospects of the smart wearable market such as AR/VR can be expected

With the increasingly rich application scenarios and the further improvement of functions, the growth space in the smart wearable field is rapidly released. favorite.

The development of new technologies such as 5G communication, intelligent interaction, and cloud computing has also accelerated the growth of this blue ocean market. Since the outbreak of the new crown epidemic, people’s demand for consumer electronic products has become increasingly diversified, and they have paid more attention to the functions of smart wearable devices such as health monitoring, sports, fitness, audio-visual entertainment, etc., which also makes related products favored by consumers.

According to the latest data from the market research agency IDC, the global shipments of wearable devices (smart watches, smart wristbands, wireless headphones, etc.) in 2021 will reach 534 million units, an increase of 20% from 445 million units in 2020, of which smart watches account for The ratio reached 23.97%. IDC predicts that global shipments of smart wearable devices will reach 632 million units in 2024.

At the same time, the emergence and rapid development of technologies such as virtual reality (VR) and augmented reality (AR) have spawned new market demands and market shares. In 2021, the global AR/VR head-mounted display market will increase by 92.1% year-on-year, with shipments reaching 1,120 It is expected that shipments will increase by 46.9% year-on-year in 2022 and a compound annual growth rate of 35.1% in 2026.

With the rise of the Metaverse concept, the future development of the VR/AR industry will receive more attention from the industry.

In fact, in addition to AR and VR-related technology research and development, Lens Technology also gathers industry partners to promote the vertical integration of this segment through cooperation, and continues to increase the business volume of smart wearable devices. With the integration of VR and 5G artificial intelligence, cloud computing and other technologies, VR applications are accelerating to the market, and concepts such as “Metaverse” have opened up new imagination space for the VR industry.

It is foreseeable that Lens Technology, which has laid out the AR/VR field in advance and has outstanding leading advantages, is expected to seize the opportunity in the layout of the Metaverse as the virtual reality industry enters a new round of explosion!

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/lens-technology-has-added-3-9-billion-to-increase-the-metaverse-ar-vr-business/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

Like (0)
Donate Buy me a coffee Buy me a coffee
Previous 2022-04-07 10:49
Next 2022-04-07 10:51

Related articles