Samyang Optics seeks to double sales by 2020

SEOUL-- Samyang Optics Co., which is set to be listed on the country's secondary bourse next month, said Friday it seeks to double its sales by 2020.

The South Korean producer of lens said it plans to bolster its manual-focus products and also seek to expand its presence in the auto-focus sector. The company said its sales for 2020 are expected to reach 130 billion won (US$115 million).

Established in 1972, the company has carved out a name for itself in the optical business. It produces lens for different camera manufacturers such as Canon, Nikon and Sony. The lenses it makes can be mounted on full-frame digital single-lens reflex cameras as well as the smaller crop sensor shooters.

In 2016, the company which sells it products under such brands as Rokinon, Bower and Opteka in foreign markets, posted an annual sales of 62.8 billion won, up 10 percent from a year earlier. Its operating profit came to 19.6 billion won.

The company said it also plans to expand profitability by focusing on video lens products, adding the outlook for the area is bright considering the very high technology barriers.

The company is expected to be listed on the KOSDAQ market on June 2.

Source: Yonhap News Agency

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