Novatek Microelectronics Corp (聯詠), a supplier of display driver ICs, yesterday said that its revenue would plunge as much as 39 percent this quarter as customers pare down orders amid tepid demand for smartphones and other consumer electronics due to a global economic upheaval.
A spike in supply chain inventory is also adding to the already weak momentum of the industry, Novatek told an online investors’ conference.
However, the Hsinchu-based company said that this quarter would be the trough for the year as it is pinning its hopes on new product launches by smartphone vendors to help recoup some losses in revenue