[Edaily Reporter Park Jung-Soo ] On the 1st, DaishinSecurities analyzed that BH(090460)is expected to benefit from the expansion of the foldable smartphone market driven by Apple and SamsungElectronics, as well as from securing new customers in the robotics and humanoid sectors. The firm maintained its “Buy” rating and target price of 41,000 won. The closing price on the 31st of last month was 18,230 won.
Park Kang-ho, an analyst at DaishinSecurities, explained, “Considering Apple’s unveiling and launch of its foldable phone in September and the success of SamsungElectronics’ Galaxy Z Fold 8, the company is expected to benefit from the expansion of global foldable phone shipments in 2027.” He added, “In the robotics and humanoid sectors, the addition of new clients in North America is anticipated, which is likely to trigger another round of valuation reassessment.”
In particular, the firm forecast that Apple’s launch of a foldable phone would serve as a catalyst for the expansion of the global foldable phone market. DaishinSecurities projected that global foldable phone shipments would increase by 28.4% from 20.32 million units in 2025 to 26.10 million units this year, and by 35.5% to 35.37 million units in 2027.
Another factor fueling expectations for market expansion is that Samsung Display recently announced the construction of a new A7 organic light-emitting diode (OLED) factory at its Asan complex, marking the resumption of capital investment in mobile-oriented facilities for the first time in five years. The firm projected that SamsungElectronics will expand its lineup of foldable phones from the current three models to five next year, while Apple’s foldable phones are expected to record annual sales of over 15 million units, propelling the company to the top spot in market share.
The robotics and humanoid sectors were also cited as new growth drivers. BH is already generating revenue based on Boston Dynamics’ humanoid robot “Atlas” and is expected to add new clients in September. Leveraging its experience supplying wireless charging modules for vehicles and RF PCBs for displays, the company is pushing to expand its supply into the robotics and humanoid sectors.
In particular, as the adoption of long-axis flexible PCBs becomes increasingly likely—due to their flexibility for robot joints and cost-saving benefits—the firm projected that new revenue from this segment will begin to be reflected in earnest starting in 2027.
Earnings are also expected to continue improving. DaishinSecurities estimates that BH’s revenue this year will reach 1.8678 trillion won, a 4.2% increase year-over-year, while operating profit will rise 76.0% to 95 billion won. For next year, the firm forecasts revenue of 1.9782 trillion won and operating profit of 115.3 billion won, representing increases of 5.9% and 21.4%, respectively.
Analyst Park noted, “The price-to-earnings ratio (PER) for 2026 stands at around 5 times, which is a historic low,” adding, “Considering the strong earnings, undervalued valuation, and business diversification into robots and humanoids, we expect the stock price to rebound and rise in September.”