LightPath Asphere Sales in China More Than Double
ORLANDO, Fla., Sept. 22, 2010 — Optical components and assemblies manufacturer LightPath Technologies Inc. announced recently that sales of its precision molded aspheres and optical assemblies in China have more than doubled over the past six months compared to the prior six-month period.
The company’s strong growth for its molded aspheric lenses is most noted in the targeted market segments of consumer and industrial laser tools, medical equipment and telecommunications.
In Asia, the aspheric lenses market is expected to top $280 million by 2011, and increased adoption among multiple market segments in China is helping to drive up demand for the company’s products. The lenses provide new cost savings over traditional high volume spherical doublet and triplet lenses with sacrificing performance.
“We are pleased to report that acceptance of molded aspheres as a replacement for spherical doublets and triplets has surpassed our initial expectations,” said Jim Gaynor, CEO. “Over the last six months, we have more than doubled our sales into the Chinese market. The continued success of our application-specific products demonstrates our capabilities in providing a low cost platform for the manufacture of high precision glass molded aspheric lenses.”
He also noted that the company anticipates continued growth in industrial laser tools and medical equipment segments, as well as resurgence in the telecommunications market.
Its ISO 9001:2008 certified wholly-owned Shanghai-based subsidiary is currently at 48 percent of total capacity. Presently, the company is doubling its press capacity to ensure it will keep pace with the anticipated unit volume demand for the lenses.
For more information, visit: www.lightpath.com