MCNEX, PATRON, and CammSys, the three domestic camera component companies that have grown by producing camera modules integrated into smartphones, have begun diversifying their business.
While they grew with the multi-camera boom that served as the 'eyes' of past smartphones, they now aim to create camera modules that will serve as the 'eyes' for automobiles and home appliances, seeking a second leap forward. They plan to join the '2 trillion club' following revenue of 1 trillion won.
According to the camera parts industry on the 27th, MCNEX has worked to strengthen its business in automotive camera modules and other electronic components. Based on this, it aims to achieve annual sales of 2 trillion won by 2030. In 2023, MCNEX recorded sales of 932.4 billion won.
MCNEX experienced rapid growth as production volume increased due to the 'multi-camera' trend in the smartphone market. At the same time, it continued its automotive camera module business. In line with current market trends where the number of cameras per vehicle is increasing due to advancements in autonomous vehicle technology, it plans to strengthen its electronic components business.
Currently, MCNEX manufactures automotive camera modules needed for systems like Advanced Emergency Braking (AEB), Lane Keeping Assist (LKA), and parking assistance. Recently, it participated in CES 2025, the world's largest IT and electronics exhibition, showcasing next-generation autonomous driving sensing and imaging systems featuring high-resolution integrated cameras and multi-polarized cameras.
MCNEX has also ventured into the vehicle semiconductor module packaging business. CEO Min Dong-wook said, 'We plan to commence mass production of vehicle semiconductor module packaging at the MCNEX Vietnam factory in the first half of 2025, with related sales expected within the year.'
PATRON is also enhancing its automotive camera business. In December of last year, PATRON announced a 'corporate value enhancement plan' that aims to increase the share of electronics components sales from 15% (176.4 billion won) in 2023 to 30% (650 billion won) by 2028. Through this, it plans to grow its annual sales from the 1 trillion won range to approximately 2.2 trillion won by 2028.
Park Kang-ho, a researcher at Daishin Securities, noted, 'MCNEX and PATRON, two companies supplying smartphone camera modules to Samsung Electronics, face limitations in generating sales in the saturated smartphone market.'
He explained, 'In contrast, as the automotive market transitions towards autonomous driving and electric vehicles, the number of cameras installed is expected to increase, shifting the growth focus from smartphones to electronics.'
CammSys has diversified its revenue with artificial intelligence (AI) cameras integrated into appliances such as refrigerators and washing machines.
The AI camera recognizes ingredients stored in the refrigerator and informs the customer about their storage duration and expiration timing. CammSys envisions significant growth potential in the AI home appliance camera market, as it can integrate AI functionality into various household appliances, including washing machines and microwaves.
CammSys has completed the development of its AI home appliance camera and is currently conducting sample tests with customers. A CammSys representative stated, 'We plan to supply AI home appliance camera modules to domestic and international appliance companies within the year.'