Kinpo to add 2 factories in Philippines
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Consumer electronics maker Kinpo Electronics, viewing that production capacities for smart home appliances at two factories in the Philippines will be fully utilized in first-half 2018, will set up two more factories there in third-quarter 2018, with one for injection molding and the other for assembly, according to company president Simon Shen.
The existing factories and the ones to be built in the Philippines belong to Kinpo Electronics (Philippines) in which Kinpo and its Thailand-based affiliate Cal-Comp Electronics hold a 81% and 19% stake respectively, Shen said, adding the Philippines-based subsidiary is expected to be listed on the local stock market in third-quarter 2018.
Kinpo stepped into production of consumer 3D printers in 2017 and currently has a global market share of 23-24% Shen said, adding it will extend production to business-use 3D printers in 2018.
Kinpo expects to globally ship 73,000 3D printers, including 500 for color printing, in 2017, and 100,000 units in 2018, consisting of 2,500-3,000 color models, Shen noted. A color 3D printer sells for US$35,000.
Kinpo has also begun production of service robots for hospitals, hotels, retail stores and airports, with unit prices ranging from US$15,000-30,000, and 2018 target shipments are set at 300-500 units, Shen indicated.
Kinpo expects to ship 10,000 units of HiMirror, a smart device for medical care of facial skin, in 2017 and will offer a second-generation model with target shipments of 50,000-100,000 units in 2018.
Questions & Answers
Q.What is the purpose of the two new factories Kinpo is building in the Philippines?
What is the purpose of the two new factories Kinpo is building in the Philippines?
One new factory will be used for injection molding, and the other will be for assembly. These facilities are being built because existing production capacities will be fully utilized.
Q.When does Kinpo expect its Philippines-based subsidiary to be listed on the local stock market?
When does Kinpo expect its Philippines-based subsidiary to be listed on the local stock market?
The Philippines-based subsidiary, Kinpo Electronics (Philippines), is expected to be listed on the local stock market in the third quarter of 2018.
Q.What are Kinpo's shipment targets for 3D printers in 2017 and 2018?
What are Kinpo's shipment targets for 3D printers in 2017 and 2018?
Kinpo expects to ship 73,000 3D printers globally in 2017, including 500 color models. For 2018, the target is 100,000 units, comprising 2,500-3,000 color models.
Q.What other products besides 3D printers is Kinpo expanding into?
What other products besides 3D printers is Kinpo expanding into?
Kinpo has started producing service robots for various sectors, and a smart device for facial skin care called HiMirror. They also plan to extend 3D printer production to business-use models.
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