What They Say
Innolux and AUO released their monthly data for March. Innolux was up 9.0% in revenue terms on February, but 22.8% down on last year to $822 million. Volumes were up to 11.98 million in large area and 23.18 million, up 13.6% and 12.3% on last month, respectively. For Q1, the firm was down 16.6% on last year in revenue to $2.4 billion. Volumes were down from Q4 2021, 3% for large panels to 34.93 million and 18.6% to 66.84 million for small ones.
AUO said that its revenues were down 8.7% year on year, but up 9.3% over February at $965 million. Over Q1 m revenues were down 1.7% on Q1 2021 and 12.4% from Q4 2021 at $2.8 billion. The total panel area shipment reached around 2.09 million square meters in March 2022, up by 6.3% month-over-month. In the first quarter of 2022, the total panel area shipment reached around 6.05 million square meters, down by 7.0% quarter-over-quarter and decreased by 4.7% year-over-year.
What We Think
AUO seems to be riding things out a bit better than Innolux at the moment, and I suspect that this is because it has been better at moving to added value and specialist products that may be a bit less vulnerable to macroeconomic swings such as the current gloomy market outlooks. (BR)
