Jiwei Network news, on April 7, Lens Technology issued an announcement that the company intends to increase the total investment of "Changsha (II) Park Smart Wear and Touch Function 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 in production by the end of 2024.
For the reasons for the new 3.9 billion yuan of large-scale increase in the construction project of smart wearable and touch function panels in Changsha (II), Lens Technology said in the announcement that smart wearable devices have continued to develop rapidly and innovate in recent years, and are increasingly favored by consumers. According to the latest statistics of the market research agency IDC, the global shipments of wearable devices (smart watches, smart wristbands, wireless headphones, etc.) in 2021 have reached 534 million units, an increase of 20% over the 445 million units in 2020, of which smart watches account for 23.97%, and it is expected that the global shipment volume of smart wearable devices will reach 632 million units in 2024.
At the same time, the emergence and rapid development of virtual reality (VR), augmented reality (AR) and other technologies have spawned new market demand and market share, in 2021, the global AR/VR headset market increased by 92.1% year-on-year, shipments reached 11.2 million units, and shipments are expected to increase by 46.9% year-on-year in 2022 and 35.1% by 2026.
Lens Technology further added that in the field of smart wearable devices, the company is one of the earliest enterprises in the industry to start research and development and innovation of optical, structural and functional parts modules, and has mass-produced products landing, with rich technical reserves and global high-quality customer resources. With the further growth of market demand, the company expects that the existing production capacity will not be able to meet customer demand, so increase the total investment amount and the amount of funds raised in the "Changsha (II) Park Smart Wear and Touch Function Panel Construction Project" to support the smart wearable business to become an important business growth point of the company in the future. (Proofreading/Sara)