Image source: Haesung Optics

Asian Tech Press (SEP 13) -- South Korea's Haesung Optics has announced to shut down its mobile modules and lenses business. The company has announced the sale of its camera module business in May this year and has now decided to exit completely.

Haesung Optics' primary customer is Samsung Electro-Mechanics, a subsidiary of Samsung. Samsung Electro-Mechanics initially targeted the high-end cell phone market but is now looking to expand into low-end and mid-range phones, leading to a decline in Haesung Optics' orders.

On the other hand, cell phone camera module and lens manufacturers in Mainland China and Taiwan have been increasing their production capacity and technology competitiveness. Haesung Optics had incurred tremendous losses due to fierce competition and had to withdraw from this market.