A component placement device suitable for placing a component on a substrate comprises at least one component feeder, at least one substrate conveyor as well as at least one component pickup and placement device for picking up a component from the component feeder and placing said component on a substrate supported by the substrate conveyor. The substrate conveyor comprises a substrate feeding portion comprising at least two substrate feed tracks extending parallel to each other, a substrate processing portion located near the component feeder, which is connected to the substrate feeding portion and which comprises a single substrate processing track, a substrate discharging portion connected to the substrate processing portion, which comprises at least two substrate discharge tracks extending parallel to each other, as well as transfer means for transferring substrates from a second substrate feed track to a first substrate feed track and from a first substrate discharge track to a second substrate discharge track.