YEST, a leading equipment manufacturer, has secured a significant contract with Fine M-Tec, a supplier of back plates for foldable smartphones. The company has been awarded an order to supply ultra-thin glass (UTG) laminators, a crucial component in the production of foldable screens. This marks a strategic move for YEST, as they aim to capitalize on the growing demand for foldable devices and their associated components.
The UTG laminators, designed by YEST, are specifically engineered to handle the delicate process of laminating screen protectors, including the ultra-thin glass variety. These laminators are an essential part of the manufacturing process, ensuring the seamless integration of foldable screens into smartphones. With this new contract, YEST is poised to play a pivotal role in the evolution of smartphone technology.
Fine M-Tec's decision to partner with YEST is a testament to the company's expertise and reputation in the industry. As Fine M-Tec prepares to establish over twenty UTG lamination lines, the initial order for two lines is a promising start. This partnership is expected to contribute significantly to YEST's revenue, with projections exceeding 40 billion won in sales related to foldable phone components. This figure surpasses their previous equipment sales revenue of 11 billion won up to the third quarter of the year.
YEST's diverse product portfolio includes both display production equipment and fab equipment, with a strong focus on the latter. In 2022, fab equipment sales accounted for a substantial 85% of their total revenue, generating 71.7 billion won. In contrast, display production equipment sales contributed only 12.3 billion won. This highlights the company's strategic shift towards the burgeoning foldable phone market.
Looking ahead, YEST is optimistic about the future, anticipating a surge in demand for foldable phones and chips next year. They are confident that their remaining orders will reach 70 billion won by the end of the year, further solidifying their position as a key player in the smartphone industry. With their innovative solutions and strategic partnerships, YEST is well-positioned to drive technological advancements in the mobile device market.
