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Chips&Media’s Operation Profit Hits 7.77 Billion Won, up 6.4% YoY

Seoul, South Korea – Feb 1, 2024

Chips&Media (094360), a global video intellectual property (IP) provider, announced through its corporate financial performance disclosure consolidated revenue of KRW 27.63 billion and operating profit of KRW 7.77 billion for last year, marking an increase of 14.7% and 6.4%, respectively, from the previous year. Sales in the fourth quarter of last year were KRW 7.4 billion, and operating profit was KRW 2.32 billion, up 3.5% and down 15.4%.

This performance is aligned with the advent of the era of artificial intelligence (AI) and the drastic increase of data center AI System-on-Chip (SoC) license sales fueled by the US-China trade dispute. However, the impact of the recession has resulted in a slight decrease in new consumer electronics licenses and royalty sales. License revenue this year was 15.65 billion won, a 55.6% increase from last year's license revenue of 10.05 billion won.

 “With the growing competition in artificial intelligence (AI), we anticipate the rise in the supply of high-capacity and high-performance semiconductors mainly for on-device AI, and the AI SoC target projects will continue. We plan to expand into global markets such as the US data center and the Japanese automobile market.” Kim Sang-hyun, CEO of Chips&Media, commented on the 2024 outlook.

"Promotions are underway for the domestic and international customers who are interested in Neural Processing Unit (NPU) IP, with licensing set to begin in 2024." a company official stated. He added, "New projects from existing global customers will see an increase."


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