What They Say
AUO published its results for Q1 2022 and reported sales of $2.76 billion, down 12.4% and operating profit of $179 million. Area shipments were down by 7% QoQ and 4.7% year on year at 6.05 million m². It also had an investor call. In Q1 consumer product sales, both TV and IT, went down and supply chain remained a challenge in Q1 and the company sees the Covid lockdowns in China are a big risk for Q2, especially transportation bottlenecks. China continues to move to bigger sets and AUO said that 65″ sell through is now 35% up from 30%.
The firm said with difficult conditions expected to continue, it will further pursue its strategy of pursuing premium, added value and specialist product sales as well as adjust its fab loading. It also mentioned that it will be showing reflective Cholesteric LCD at Touch Taiwan this week. In response to a question about Chinese makers moving away from TV towards IT panels, Paul Peng said that although the firm could see the trend, it did not believe there would be a major impact.
What We Think
There was little here that was surprising except, perhaps, the idea that cholesteric LCD might be an interesting market. The firm will be at Display Week when we plan to catch up with them. (BR)
Source: AUO
