IMPAIRED ASSETS:The touchpanel maker wrote down NT$18.97 billion, mainly from idle equipment, as lackluster notebook demand affected its factory utilization rate
Taipei Times
Date: Nov 05, 2015
By: Lisa Wang / Staff reporter
TPK Holding Co (宸鴻), a major supplier of touchpanels for Apple Inc’s iPhone 6S and
TPK Holding Co chairman Michael Chiang tells a press conference in Taipei yesterday that the company posted a third-quarter loss of NT$19.39 billion. Photo: CNA
Watch, yesterday reported a quarterly loss of NT$19.39 billion (US$595 million) due to massive asset impairments.
The company said it is undertaking a drastic restructuring as lackluster demand for touchscreen notebook computers has affected its factory utilization rate, leaving some of its equipment idle.
TPK posted NT$18.97 billion in impaired assets last month, mainly from unprofitable and idled equipment. [FULL STORY]
