LG Innotek, the world’s largest smartphone camera module maker, said Tuesday that it is aiming to take the lead in the global automotive camera module market by beefing up its workforce and expanding product lineups.
“For the last three years LG Innotek paved the way to get a foothold in the market for automotive camera modules, and we successfully rolled out front-view camera modules,” said the company in a press release. “We believe it is now time to make a full foray into the global market.”
The company said it would introduce next-generation automotive camera modules for products such as around-view cameras, front and rear-view cameras, and advanced driver-assistance systems that recognize the status of the driver.
This would all be done by utilizing the firm’s high-definition optical technology and auto parts know-how, the company said.
Earlier this year, the LG affiliate reinforced its automotive camera module team by adding new talent for marketing, quality management and production technology.
In January, the Korean firm signed a supply deal for camera modules with a global electric car manufacturer.
Since vehicle parts are put through rigorous safety tests before being commercialized, the recent deal indicates that LG Innotek’s technology has been well-recognized by car makers, according to the firm.
“The firm has become more competitive by making advances in technology and production infrastructure, and also by focusing more on safety management,” an official from the company said.
According to Techno Systems Research Co., an international marketing research firm, the global market for automotive camera modules is expected to grow from $14 billion in 2012 to $35 billion in 2015.
By Kim Young-won (email@example.com