SEOUL -- LG Innotek reported fourth quarter revenue at its Substrate and Material unit rose 19% year-over-year and 6% sequentially to 340 billion won ($308 million). Chip packaging substrates made up 83% of the unit's sales for the period ended Dec. 31.

LG Innotek said demand for packaging substrates and chip-on-flex would continue to rise in the first quarter. Automotive lighting and electronic vehicle sales are expected to drive future growth, the company added.

LG Innotek is the 29th largest PCB fabricator in the world, according to the latest NTI 100 list.

 Overall, the company reported quarterly revenue of 3.84 trillion won ($3.4 billion), up 32% from a year ago and 73% sequentially on higher demand for packaging substrates. Operating income rose 38% to 342.3 billion won, while net income was up 683% to 121.1 billion won.

LG Innotek makes smartphone camera modules, substrates and photomasks for displays, and semiconductor substrates for communications.

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