[Edaily Reporter KIM AH-REUM ] ITM Semiconductor ( ITM Semiconductor Co., Ltd(084850)) announced on the 18th that, on a continuing operations basis excluding its protection circuit business for Apple, it recorded revenue of 135.7 billion won in the first half of 2026, a 10.7% increase from 122.5 billion won in the same period last year. The company posted an operating loss of 10.1 billion won on a continuing operations basis.

The company explained that, following the termination of its Apple-related business, the results of its business portfolio restructuring are gradually becoming apparent as its core businesses—such as smartphone protection circuits and e-cigarettes—are growing. Revenue from the smartphone protection circuit business for Samsung increased by 31.9% in the first half, rising from 31.7 billion won in the same period last year to 41.8 billion won, driven by expanded supply. The e-cigarette business also continued its growth trend, with revenue rising 24.8% from 60.5 billion won to 75.5 billion won, thanks to increased sales of export DEVICES by the Indonesian subsidiary and higher cartridge supply.

The operating loss for the first half reflected the cost burden arising from the wind-down of the Apple business and the process of establishing a new business structure. Some production facilities originally dedicated to Apple were redeployed to produce protection circuits for domestic clients, and temporary labor cost burdens persisted as adjustments were made to the local workforce related to the Apple business. Additionally, proactive investments for future business expansion—such as organizational strengthening to meet major clients’ heightened quality standards and the establishment of a new advanced technology unit—also contributed to the increase in costs.

The company plans to gradually alleviate the cost burden starting in the second half of the year. It intends to finalize adjustments to local personnel and organizational structures related to the Apple business, eliminate as much of the remaining cost burden associated with the business closure as possible by the end of the year, and focus on improving profitability in its core businesses.

The company is also accelerating efforts to secure future growth engines. In response to the expansion of humanoid robot development by major domestic companies, it is sequentially establishing development lines for humanoid battery packs and motor controllers at its headquarters. Furthermore, the company’s strategy is to expand its existing battery protection circuit and battery pack design and manufacturing technologies into the medium- and large-sized battery sector and cultivate this as a next-generation growth business.

CEO Na Hyuk-hwi stated, “In the first half of the year, growth in our smartphone protection circuit business for Samsung and our e-cigarette business demonstrated the results of the business portfolio restructuring we have been pursuing since the discontinuation of our Apple-related business.” He added, “In the second half, we will focus on improving profitability by streamlining our cost structure, while also continuing to expand future growth businesses such as robotics, humanoid robots, and defense.”