BH to Supply Flexible PCBs for Samsung's Foldable Camera Modules

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BH will be supplying the flexible printed circuit boards (FPCB) for the camera modules on Samsung’s new foldable phones. The board maker becomes the third supplier of the boards to Samsung after NewFlex and SI Flex. BH has so far focused on FPCB for displays but the new deal means it will also aim to supply FPCB for cameras in automotive and robotics.

NewFlex and SI Flex are still supplying the majority of the boards Samsung will use but BH is still expecting revenues of tens of billions of won from the new deal, sources said. Having more supplies means to the South Korean tech giant also benefits as it can acquire the FPCB boards at more competitive prices.

It previously procured them from Daeduck Electronics and Interflex, which exited the business in 2022 due to low profitability. This allowed NewFlex and SI Flex to enter the supply chain and become dominant suppliers. NewFlex is the largest supplier and the company’s revenue also comes mostly from camera module FPCB supply to Samsung.

In 2021, NewFlex recorded 171.7 billion won in revenue and 1.5 billion won in operating income. In 2022, after it began supplying the boards to Samsung, it recorded 260.3 billion won in revenue and 17.9 billion won in operating income.

SI Flex, meanwhile, also supplies display FPCB to Samsung. The company also supplies boards to Apple. Its 2022 revenue was 689.3 billion won and operating income was 45.3 billion won. Its 2023 revenue was 646.2 billion won and operating income was 34.1 billion won.

BH recorded 1.59 trillion won in revenue last year and 80% of it came from FPCB sales, though most of it came from OLED displays and not camera modules.

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