Light guide plate supplier Global Lighting Technologies (GLT) expects its revenues to expand by 10-15% in 2021, bolstered by growing shipments across its product lineups.

The company experienced a 112% revenue hike to NT$11.206 billion (US$392.21 million) in 2020, resulting in a 21% increase of its net profit to NT$1.355 billion for the year.

GLT reportedly has landed light guide plate orders for illuminated keyboards to be released by Apple in 2021, said industry sources, adding Apple's orders will help GLT sustain its growth goal for 2021.

GLT declined to comment on specific orders or clients.

But the firm disclosed that it will expand its capex for 2021 to NT$450 million, up from the NT$394 million spent a year earlier. The company will utilize the expanded capital spending to upgrade its plants in Shanghai, China and in Chungli, Taiwan.

The Shanghai plant's production capacity will be ramped up by 10-15% in 2021, the company noted.

The company said it is developing more light guide plate products for large-size, IT, wearable, gaming and automotive applications, and shipments for gaming applications alone will increase by 20-30% in 2021.

Shipments of light guide plates for TV applications will rebound in the second half of 2021, pushing their annual shipments to 12 million units compared to 10 million units shipped a year earlier.