Data Communications - Korean IP Set-Top Box Makers Ride Global Market Growth
May 27, 2005
Korean set-top box company Se Yang posted 2005 first quarter results of 12.1 billion Won (US$ 12.1 million; US$ 1=1000 Won), growth of 25% year-on-year. This success was attributed to its delivery contract with Japan's UPS, worth 9.5 billion Won (US$ 9.5 million), which started in January 2005.
Sitecsystem, another maker, has mainly used developed IP set-top boxes through the OEM/ODM business type, and it will start putting out its own brand offerings in May. It forecasts that sales of its IP set-top boxes could reach up to 12~12.5 billion Won (US$ 12~12.5 million) in 2005. Korean maker Inforq has signed a contract with Japan's Neo Pallas, under which it will provide 30.000 units of IP set-top boxes. Inforq has a goal of 20 billion Won (US$ 20 million) worth of sales in 2005.
Korean makers of IP set-top boxes indicated that besides communication companies, hotels, hospitals and banks also have an interest in using IP set-top boxes. According to a survey by TRS, in 2004 the global market for IP set-top boxes stood at 920.000 units, worth US$ 230 million. The survey forecasts that in 2005 these numbers will grow to 4.12 million units and US$ 865.2 million respectively. The forecast says that the global market will reach 9 million units and a worth of US$ 1.53 billion.