For Ofilm, a camera supplier that relies heavily on Apple, being kicked out of the iPhone maker's supply chain would mean a major blow. But now it sees a new opportunity in China's budding smart car market.

According to the Securities Times, Ofilm held a market strategy meeting Monday with its core team, including founder Cai Rongjun, in attendance.

The company laid out its next priorities in the meeting, including pursuing growth in non-phone markets while continuing to expand its cell phone camera business.

Its new development directions smart home and automotive electronics, including ADAS cameras.

Specifically, the company listed four tasks:

1. To continue to expand new business in the optical field.

2. To open up new areas outside the car parts and security market.

3, the home business unit will be independent, as soon as possible to get the manufacturing and solutions of floor-sweeping robots and smart door locks.

4. To achieve the set target of vehicle parts business as soon as possible, and deepen the business of surround-view camera and ADAS camera.

On March 16, Ofilm said it received a notice from a specific overseas customer regarding the termination of its purchasing relationship, and that Ofilm will no longer obtain existing business orders from the specific customer in the future.

Although it did not name the customer, the specific customer is clearly a reference to Apple.

In 2019, Apple brought Ofilm an operating revenue of 11.7 billion yuan, accounting for 22.51% of Ofilm's total revenue that year.

On April 13, Wingtech Technology announced that it would acquire Ofilm's imaging technology subsidiary with Zhuhai Gree Ventures in a 7:3 ratio. Wingtech Technology will contribute RMB 2.1 billion and Gree Ventures will contribute RMB 900 million.

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(Source: Ofilm)