Genius Electronic Optical (GSEO), a manufacturer of optical lens modules, has increased its presence in the market for augmented reality (AR) and virtual reality (VR) devices. By 2025, the business expects sales of AR/VR products to make up 30% of total revenue.
Given the high order demand and limited production capacity, GSEO chairman Jones Chen is upbeat about sales performance in the second half of 2022.
GSEO has seen growth in its VR lens products with the successful creation of its VR lens technology in 2019. Executives at GSEO are now convinced that they can withstand the difficulties posed by its three primary American and Japanese rivals as they start to mass produce next-generation devices in the second half of 2022.
According to industry experts, emerging applications like AR/VR have greatly increased demand for pertinent items since 2019 and are giving the optical industry fresh growth momentum.
The clients of VR products have strict expectations for the accuracy of the lens axis, which downstream module manufacturers find challenging to achieve, according to GSEO. As a result, GSEO is working with its clients to create and manufacture lens modules at its facility in Taiwan. GSEO intends to eventually move production to its facility in Xiamen, China.
According to former GSEO president Lee Kuo, fewer than 10% of the company’s income in the first half of 2022 will come from VR devices, with the majority of sales coming from mobile phones. By 2025, GSEO hopes to increase VR’s revenue share to 30%, indicating that it intends to expand the use of VR products. The end of 2022 or the first quarter of 2023 are when the market anticipates GSEO’s VR-related optical components to debut.
Similarly, the supply chain anticipates a significant increase in GSEO’s VR products in Q1 2023. In its plants in Taiwan and China, GSEO will first increase the manufacturing of VR items before moving on to AR products in 2025.
Additionally, GSEO executives denied previous rumors regarding the iPhone 14’s lens. The speculations stated that an order for 10 million lenses was transferred to Largan Precision as a result of cracks in the back lens caused by yield issues at GSEO. Although production problems are normal, the relevant orders are currently filled, according to GSEO executives.
Given that Q3 is often the busiest quarter, GSEO anticipates an increase in business.