TTE's auto-electronics parts sales in N. America up by 277% YoY.Taipei, Oct. 8, 2009 (CENS CENS Censor
CENS Center for Embedded Networked Sensing (UCLA NSF)
CENS Centre d'Etudes Nucleaires de Seclay )--Taiwan-based automotive-electronics maker Tung Thih Electronic Co., Ltd. (TTE TTE Telecommunications Terminal Equipment
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TTE To the Extreme (band)
TTE The Tourism Expert ) recently claimed that its sales of original equipment (OE) auto parts Auto parts are components of automobiles. They mainly are, in alphabetic order (only car specific articles or articles with car section):
TTE is a major auto-parts suppliers to major automakers worldwide. The company has a very wide range of product lines including parking sensors Parking sensors (also known as backup sensors) are a technology that allows the driver of a car, truck, van or commercial vehicle to be alerted to nearby objects in their path. , car alarms, multi-function rearview mirrors, vehicle charge coupling device (CCD CCD
in full charge-coupled device
Semiconductor device in which the individual semiconductor components are connected so that the electrical charge at the output of one device provides the input to the next device. )/ complementary metal-oxidesemiconductor (CMOS (Complementary Metal Oxide Semiconductor) Pronounced "c-moss." The most widely used integrated circuit design. It is found in almost every electronic product from handheld devices to mainframes. ) cameras etc. Currently, parking sensors contribute to about 80% of the company's revenue.
In the first eight months, TTE registered accumulated revenue of NT$1.51 billion (US$46.3 million at US$1: NT$32.5), up 30% YoY. The company's August revenue saw a 61.3% YoY increase.
A senior executive of TTE said that the automotive industry always requires highest product safety and reliability and the product certification takes a long time, posting high thresholds to newcomers in automakers' supply chains. He stressed that TTE is the only company in Taiwan being the first-tier supplier to North America GM and Ford as well as Japan Nissan and synchronizes the R&D processes with these automakers. That means, he added, TTE own the prior supply right in the region among similar counterparts.
As parking sensors have become a standard equipment on new cars, TTE said, each new car often uses eight to 12 such sensors. China's market annual growth is much higher than the global average, TTE said, as more than 10 million new cars are expected to be sold this year. In conjunction with the increasing new-car sales in China, TTE's revenue is expected to further increase, the company said. Some institutional investors forecasted that TTE's second-half earnings would grow by 40% over the first half, and the firm's 2009 earnings are expected to double last year's.