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IC design house Weltrend Semiconductor is expected to see its revenues grow by a double-digit rate in 2017 from NT$2.048 billion (US$67.96 million) recorded in 2016, according to a Chinese-language Commercial Times report.
Increasing shipments of its NFC modules for mobile payment applications will serve as Weltrend’s growth driver in 2017, said the report.
Weltrend’s NFC modules have been adopted by Kaohsiung Mass Rapid Transit System in Taiwan and also by EZ-Link cards of Singapore’s Mass Rapid Transit (MRT) system. Additionally, the company’s NFC modules have also been verified by China’s Expresspay Card system and also the EasyCard of Taipei’s MRT system, noted the report.
Weltrend posted revenues of NT$169.66 million for April, up 8.49% on year. Year-to-date, the company had total revenues of NT$664.87 million, increasing 11.11% from a year earlier.
The company’s stock price edged down NT$0.15 to finish at NT$28.15 on the Taiwan Stock Exchange (TSE) during the May 24 session.
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