The nation’s major panel suppliers, AUO Optronics Corp (友達光電) and Innolux Corp (群創), reported that revenue last month tumbled 30 percent and 42.6 percent year-on-year respectively, as sagging TV demand drove panel prices down to historic lows.
AUO said that revenue last month plunged to NT$21.97 billion (US$744 million) from NT$32.12 billion a year earlier, but increased 8.6 percent from NT$20.22 billion in April.
Overall, shipments rose 11.3 percent to 1.75 million square meters, AUO said in a statement.
Innolux said that revenue last month plummeted to NT$18 billion from NT$31.38 billion a year earlier, the lowest since February 2020. On a monthly
E Ink Holdings Inc (元太科技) yesterday said it would further expand capacity to cope with robust demand for e-paper displays used in e-readers, e-notes and electronic shelf labels, as the COVID-19 pandemic and rising inflation have not dampened consumer demand.
Although rising inflation is weakening companies’ purchasing power, E Ink said that its customers have not scaled down orders for e-paper displays used in e-readers.
“Reading is still the most affordable leisure activity that people have,” E Ink chairman Johnson Lee (李政昊) told an online investors’ conference in Taipei.
As e-books are less expensive than paper books, “we have so far not seen
Hon Hai Precision Industry Co (鴻海精密) yesterday said it would not send representatives to the board of flat-panel maker Innolux Corp (群創光電).
Hon Hai, known as Foxconn Technology Group (富士康科技集團) outside of Taiwan, said in a statement that its wholly owned subsidiary Hyield Venture Capital Co (鴻揚創投), which owns a 1.67 percent stake in Innolux, would not send any representatives to the flat-panel company as board members.
Following the announcement, Hon Hai shares rose 0.48 percent to NT$104.5, while Innolux shares fell 0.74 percent to close at NT$13.35 on the Taiwan Stock Exchange.
Innolux, which has proposed reducing its capital by 9.5 percent
Flat-panel maker Innolux Corp (群創) yesterday reported that net profit plunged about 83 percent last quarter to the lowest level in about one-and-a-half years, as the Russia-Ukraine war, China’s COVID-19 restrictions and surging inflation added to already-sluggish panel demand during the off season.
The lockdowns in China’s major manufacturing cities and transportation gridlocks drove up raw material costs, with Innolux’s operating expense ratio climbing to 9.1 percent, from 8.9 percent in the previous quarter and 8 percent in the first quarter of last year, company data showed.
Net profit last quarter plummeted to NT$1.89 billion (US$63.6 million) from NT$11.57 billion a year