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Chips&Media’s Last Year Revenue up 15%

Seoul, South Korea - Feb 1, 2024

Growing with the AI semiconductor market

Chips&Media, a global leader in Video IP technology, continues to grow steadily despite the recession.

Chips&Media (CEO Kim Sang-hyun) reported consolidated sales of KRW 27.63 billion and operating profit of KRW 7.77 billion in 2023. This marks an increase of 14.7% and 6.4%, respectively, compared to the previous year.

The surge in revenue is attributed to a substantial uptick in sales of data center AI SoC licenses, driven by the emergence of the AI era and the advantageous effects stemming from the US-China trade dispute, as stated by the company.

Kim Sang-hyun, CEO of Chips&Media, shared the business outlook for this year, emphasizing, "As the AI competition intensifies, we anticipate a rise in the supply of high-capacity and high-performance semiconductors on On-Device AI in the future, with ongoing advancement in the AI SoC Target project." He additionally expressed, "Our strategic focus includes expanding into global markets such as the US data center and the Japanese automobile market."

According to the company spokesperson, "Promotional activities are targeting both domestic and international customers who are interested in NPU IP, and its licensing will commence in 2024." He also mentioned, "We expect an increase in new projects from global existing clientele."

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