Jiwei Network news, on February 17, Miracle Photoelectric announced the fourth quarter of 2021 and the annual performance report of 2021.
According to the announcement, Miracle Vision's fourth-quarter net revenue was $452 million, up 7.4% sequentially, up 63.9% year-on-year, and gross margin was 51.8%; revenue in 2021 totaled $1.547 billion, up 74.4% from 2020, and gross margin was 48.5%, a significant increase from 24.9% in 2020.
Spectral Optoelectronics said gross margin growth mainly reflected more favorable IC pricing and product mix due to tight capacity, as well as increased contributions from high-margin product lines, especially in automotive, laptop drivers and Tcon.
Specifically, large display drive revenue for the fourth quarter of 2021 was $125 million, up 6.3% sequentially; sales of small and medium-sized display drives were strong at $277 million, up 9.6% sequentially; and non-drive revenue was $50.3 million, down slightly sequentially.
For the full year 2021, small and medium-sized display drives had the highest year-over-year growth of 86.8% in 2021, with sales totaling $963.5 million; revenue from large panel display drives totaling $397.9 million, an annual growth rate of 65.3%,; and non-drive product sales totaling $185.7 million, up 42.0% from last year.
Spectral Optoelectronics said that in 2021, automotive electronics grew the fastest among all product lines, with an increase of more than 110%, and the sales of tablet ICs, the largest contributor to sales, increased by 77.0%. In 2021, sales of smartphones and e-reading products increased by more than 85% and 23%, respectively.
Wu Bingchang, president of Miracle PhotoNics, said that with the support of a number of product areas, we are optimistic about the growth prospects for the coming year, especially the automotive and ultra-low-power ARTIFICIAL image sensing businesses, which we believe will remain strong regardless of macroeconomic concerns. We expect both products to surpass the gross margin of the other product lines in 2022. The strong demand for our legacy automotive drive ICs is supported by strong foundry capacity, and automotive TDDI is poised to grow exponentially in 2022 and beyond. We expect cumulative shipments of automotive TDDI to reach 10 million units as soon as the second quarter of this year. As automotive revenue contributions grow, it will better position our portfolio in terms of profitability and business visibility. ”
It is understood that Miracle Optoelectronics Co., Ltd. is an IC design company focusing on image display processing technology, is the world's leading manufacturer of display driver ICs and timing control ICs, products are used in TVs, laptop computers, desktop computers, mobile phones, tablet computers, digital cameras, car navigation and other consumer electronics. Other products of Miracle Optoelectronics include touch panel control ICs, handheld and head-mounted silicon-controlled liquid crystal light valve (LCOS) micro projection solutions, LED driver ICs, power management ICs, LCD TVs and monitor chips. Miracle Also offers digital camera solutions, including CMOS image sensing ICs and wafer-level optical lenses, which have been widely used in mobile phones, tablets, laptops, televisions, IP cameras, and automobiles.
(Proofreading/Humphrey)