November 25, 2024 – NAMUGA, a leader in camera-based sensing technologies, is expanding into four key markets: Augmented Reality (AR), Virtual Reality (VR), Mobility, and Biomedical sectors. By leveraging its advanced vision-sensing capabilities, the company targets annual revenues exceeding 600 billion KRW (approximately $450 million) by 2027.
In an exclusive interview with The Electronic Times, NAMUGA CEO Don Lee shared the company’s strategic ambitions. “We are focusing on new business domains where our 3D camera-based sensing technology can excel,” Mr. Don Lee said. “Currently, we are running more than ten projects across these sectors, many in collaboration with global partners. We expect tangible results soon.”
Pioneering 3D Sensing Technologies
NAMUGA, known for its camera modules used in smartphones and home appliances, stands out for its expertise in 3D sensing technology, which measures depth and recognizes object shapes through cameras. The company introduced its first Time-of-Flight (ToF) module in 2010 and followed it with a ToF-based 3D sensing camera module in 2011.
ToF technology, which gained wider recognition after Apple used it for facial recognition in the iPhone in 2020, measures the time it takes for light to bounce back, enabling precise recognition of spatial information, object dimensions, and motion.
Mr. Don Lee emphasized its applications, particularly in AR and VR. “In AR and VR devices, 3D sensing enables hand gesture recognition for device control or eye-tracking for enhanced user experience. Soon, devices equipped with our ToF camera modules will be launched in these markets,” he said.
Growth Across Emerging Industries
The integration of 3D sensing with artificial intelligence (AI) is further expanding its utility. For example, NAMUGA has been supplying 3D sensing modules for Samsung Electronics’ AI-powered robotic vacuums since 2021. These modules enable the vacuums to detect obstacles and navigate spaces autonomously.
The technology’s application is also growing in mobility, particularly with the shift toward autonomous vehicles, as well as in security and healthcare. “We are developing a facial tone recognition technology in collaboration with a Belgian company, combining image sensors with color recognition. These developments are central to our decision to target these four key markets,” Mr. Don Lee added.
Operational Shifts for Strategic Growth
Since taking the helm in January, Mr. Don Lee has focused on strengthening NAMUGA’s new business initiatives and fostering client relationships. As part of these efforts, the company relocated its headquarters to Pangyo in July, South Korea’s tech innovation hub. Meanwhile, its cleanroom-based R&D facilities remain in Seongnam. NAMUGA operates a business model where R&D and sales are managed domestically, while all manufacturing is conducted at its Vietnam facility.
“The relocation of our headquarters was a critical step in building connections with global companies and identifying new business opportunities,” Mr. Don Lee explained.
The efforts are beginning to bear fruit. While smartphone camera modules previously accounted for 99% of NAMUGA’s sales, that figure has decreased to 95-96% this year. The company aims to reduce this share further to 70-75% by 2027, with new businesses contributing 25-30% of total revenue. NAMUGA’s annual revenue for 2022 was 365.6 billion KRW.
Boosting Efficiency Through Automation
NAMUGA has also optimized its Vietnam production facility by reducing its workforce while maintaining production efficiency. The company has cut its headcount from 1,600 at the start of the year to under 1,000, thanks to automation efforts. Despite the reduced workforce, production levels have been maintained or even increased.
“While we’ve reduced manpower, productivity has significantly improved, resulting in higher revenue,” Mr. Don Lee said. A veteran in process automation, Mr. Don Lee previously held leadership roles at LG Electronics, Dover Group, Tyco Group, and Samsung S-1.
NAMUGA’s strategic focus on emerging industries, alongside its operational efficiencies, is poised to drive the company’s growth as a leader in vision-sensing technology.
About Namuga
Founded in 2004 and based in Pangyo, South Korea’s Silicon Valley, Namuga has been at the forefront of innovation in the 3D sensing camera module industry. The company specializes in high-performance camera modules and 3D technology solutions, catering to top-tier markets worldwide. Namuga’s products play a critical role in various sectors, including mobile, micro actuator, AR/VR, mobility, security, and biomedical industries.
Namuga operates a state-of-the-art, 58,000-square-meter factory in Vietnam, which allows it to manage a fully integrated development and manufacturing process. This facility enables Namuga to meet diverse global customer needs effectively, ensuring high standards of precision, quality, and reliability. The company also holds multiple certificates in module technology R&D, highlighting its capability to deliver advanced solutions that meet the evolving demands of modern technology markets.
For more information about Namuga or to schedule a meeting, please visit namuga.com or contact Namuga at [email protected].
