Home » Sunday » Technology
Oversupply hits profit
BOE, China’s biggest LCD panel maker, suffered a nearly 31 percent drop in net profit in the first half of the year amid an oversupply of LCD panels in the market, the Shenzhen-listed firm said in a statement yesterday.
But BOE is banking on new growth engines like the Internet of Things and new-technology display for smartphones, the firm said.
In the first six months, BOE’s net profit fell 30.9 percent from a year ago to 2.97 billion yuan (US$428 million). Its revenue shed 2.54 percent from a year ago to 43.5 billion yuan.
BOE, which has over 10 production lines in China, produced 25 percent of the world’s LCD panels in 2017. The LCD panels are used in TVs, smartphones and IoT devices, said researcher IHS.
Despite growing sales, BOE has been facing oversupply since 2017, which erodes revenue and profit.
BOE said that the IoT business increased 4.1 percent year on year to 7.35 billion yuan in the period.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.