Thinkware announced on May 15 that it recorded consolidated revenue of 119.7 billion won and an operating loss of 4.6 billion won for the first quarter of this year.
Revenue decreased by 16% compared to the same period last year, and the company shifted from an operating profit of 400 million won in the first quarter of 2025 to a loss this year.
A company representative explained, "The results were impacted by delays in the supply schedule of some products, rising prices of raw materials including semiconductor memory due to geopolitical risks, and the appreciation of the yuan."
To overcome external uncertainties, Thinkware is securing long-term growth drivers through initiatives such as supplying black boxes exclusively for Mercedes-Benz Korea, launching ultra-compact black boxes for two-wheeled mobility, expanding online distribution of Xiaomi products, operating an AI-based taxi-hailing platform, and developing overseas digital twin projects.
Recently, the company signed a supply contract worth approximately 40 billion won with BMW Global and is expanding its product lineup to include camcorders, smart audio devices, and switch controllers, aiming to become a global automotive electronics company.
Notably, Thinkware has filed 2,765 intellectual property (IP) applications with the five major patent offices worldwide, holding over 1,580 registered patents. According to global patent analysis firm LexisNexis® PatentSight+™, Thinkware has been recognized as the only mid-sized company in South Korea to be listed among the top 10 applicants in the autonomous driving sector from 2019 to 2025.
The company representative stated, "We will strengthen our technological and product competitiveness in the global market based on our IP portfolio. We are currently pursuing multiple IP monetization projects in IT, wearables, autonomous driving, connected cars, mobility, and drones, in partnership with specialized law firms and IP investment institutions to protect our rights and commercialize these projects, which we believe will grow into a core high-profit business in the long term."
* This article has been translated by AI.
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