Novatek profit slips as margins decline

OPTIMISM: The company expects increased shipments of driver ICs for OLED panels and that fast-growing demand for 5G smartphones would stimulate sales of TDDI

Taipei Times
Date: Nov 07, 2019
By: Lisa Wang  /  Staff reporter

Novatek Microelectronics Corp (聯詠), which makes driver ICs for LCD panels, yesterday reported that net profit last quarter declined 4.53 percent sequentially as falling prices cut into margins.

Net income dropped to NT$2.03 billion (US$66.78 million) during the three-month that ended in September, compared with NT$2.56 billion in the second quarter.

However, on an annual basis, net profit grew 10.4 percent from NT$2.27 billion a year earlier.

Revenue climbed to a record NT$16.6 billion in the third quarter, with 68 percent coming from driver ICs and 32 percent from system-on-a-chip (SoC) for TVs and other consumer electronics.

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