JNTC, a curved (3D) cover glass company is preparing to flap its wings for revival. JNTC’s biggest expectation this year is the resumption of the launch of Huawei’s flagship smartphone in China. Huawei was pushed out of the top 5 in smartphone shipments in 2020 as its smartphone business contracted due to US government sanctions, but it began releasing flagship smartphones again last year. In March, it launched the P60 series.
The portion of curved cover glass in JNTC’s sales is 60-80%, of which Huawei accounts for 40-50%. 30-40% of total sales come from Huawei. As Huawei’s smartphone business contracted, J&TC’s sales continued to decline from 386.2 billion won in 2019 to 347.8 billion won in 2020, 202.6 billion won in 2021, and 161.3 billion won in 2022.
JNTC is also looking forward to display for vehicles. JNTC announced in February that it had secured more than 700 billion won in order backlog for automotive display cover glass by 2028. Sales of cover glass for vehicles increased from 2.7 billion won in 2021 to 19.6 billion won in 2022. It expects 55 billion won this year. Vehicle cover glass refers to display tempered glass that applies ergonomic design from the driver’s seat to the front passenger’s seat.