"Network Equipment Boom" Gaon Group Achieves Turnaround in First Half

[Financial News] The artificial intelligence (AI) total solution company Gaon Group continued its growth trend in the second quarter following the first quarter, achieving a turnaround in the first half of the year.
Gaon Group announced on the 13th that its consolidated results for the second quarter of this year showed sales of 133.3 billion KRW and an operating profit of 1.5 billion KRW. Sales increased by 14.8% compared to the same period last year, and operating profit turned into a surplus.
Gaon Group recorded sales of 260.6 billion KRW in the first half of the year, an increase of 12.1% compared to the same period last year. During the same period, it achieved an operating profit of 1.9 billion KRW, marking a turnaround.
Gaon Group's export of network equipment showed strong performance in the first half of the year, driving overall sales growth and improving profitability. It is analyzed that next-generation network equipment, including 'WiFi 7', has preempted the global market.
The second half of the year is also expected to see improved annual performance with the expansion of next-generation network equipment supply and increased overseas market sales of online video service (OTT) devices.
A Gaon Group representative said, "The market share of OTT devices and next-generation network equipment in the domestic market is increasing," adding, "We are pursuing supply contracts with large overseas markets such as the United States and Japan, so sales are expected to continue growing in the second half of the year."
Meanwhile, Gaon Group's subsidiary, K-Future Tech, plans to supply the AI autonomous driving service robot 'RODY' to leading hotels and resorts in Korea. The recently unveiled robot 'MARS' is also expected to be actively supplied to cafes and restaurants.

butter@fnnews.com Kang Kyung-rae Reporter