[Edaily Reporter KIM AH-REUM ] ITM Semiconductor ( ITM Semiconductor Co., Ltd(084850)) announced on the 18th that it recorded revenue of 135.7 billion won for the first half of 2026 on a continuing operations basis, excluding its protection circuit business for Apple, marking 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 the results of its business portfolio restructuring are gradually becoming apparent as its core businesses—such as smartphone protection circuits and e-cigarettes—have grown following the termination of its business with Apple. Driven by expanded supply, 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. The e-cigarette business also continued its growth momentum, with revenue increasing by 24.8% from 60.5 billion won to 75.5 billion won, driven by expanded sales of export DEVICES by the Indonesian subsidiary and increased cartridge supply.

The operating loss for the first half reflected the cost burden incurred during the wind-down of the Apple business and the establishment of a new business structure. Some production facilities originally dedicated to Apple were repurposed for the production of 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, resolve as much of the remaining cost burden associated with the business closure as possible by year-end, and focus on improving the profitability of 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 robot 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-to-large 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.”