Synergy experienced a fantastic 2013, greatly exceeding the expected full-year revenue target, the annual growth rate a spectacular 50%, and net income exceeding three fold, profit growth rate has also hit a record high.
Dr. Xing Xuekun, Synergy president, pointed out that 2013 operating results significantly exceeded expectations, the main contribution for this surge coming from Bluetooth headsets and wearable devices; Mainland China last year issued new traffic regulations, driving significant new demand for Bluetooth headsets. Sales for Bluetooth headsets using Synergy’s batteries resulted in increase of turnover by 48%. Last year, wearable devices set off in the global market trend to become 3C key product, Synergy lithium polymer battery shipments for wearable devices surge six times, rising in 2013 to occupy Synergy’s second spot for battery applications.
Synergy last year lithium polymer battery applications to Bluetooth headsets accounted for about 60 percent, health, fitness, medical equipment and other wearable devices with around 20 percent in total, wireless keyboard, gamepad, and other computer and mobile phones peripherals accounted for about 10 percent, the rest of the shipments include power batteries and others.
IEK, predicts that the coming years will see wearables become common place, thus the wearable device application market will see continuous growth, this will be key to operating growth at Synergy.
Vice president of Sales & marketing, Wang Guangchang, said Bluetooth headsets and wearable devices are niche markets for lithium polymer battery, because the battery product in small sizes, great diversity of supply volume, is not suitable for automated production. Japanese, Korean battery suppliers mostly focuses in large batteries, not the focus of development for customized small battery. Over the years Synergy has put lots of focus with its own technology and KNOW HOW for small Bluetooth headset market , rapid new product development, stable quality and very good safety, and has a place of top three suppliers among the world's small and odd-shaped lithium polymer battery, as one of preferred battery partners for the world's wearable device manufacturers.
Dr. Xing stressed that Synergy operations and sales will continue to grow, the demand forecast keeping steady Bluetooth headset to maintain last year's level at least, the growth of wearable devices is very optimistic. Facing tight production capacity this year, Synergy will be taking the first step by its own funds to increase 20% of capacity in the third quarter, in addition, more capacity expansions including installation of a new plant is also being studied with capital expansion plans, and then the monthly capacity can be expanded stage by stage by 5,000,000 to 6,000,000 units.