What They Say
AUO and Innolux announced their June and Q2 results.
AUO saw sales down 22.9% on a quarterly basis and 34% annually to $2.1 billion and with an operating loss of $155 million. TV sales dropped to 16% of revenues, which are only just above the 14% from automotive (up from 8% a year ago and 9% in Q1 2021). Mobile PCs fell as an application from 33% in the previous two quarters to just 24%.
Innolux saw revenues of $1.93 billion in Q2, down 38% from last year and down 17% from Q1. Operating loss was $191 million. Panel area was down 1.6% QoQ although small and medium panels were up in revenue and area at 820.8K m², up 19.1% QoQ.
In 2Q22, for Innolux in terms of product application, Mobile PC, Mobile & CP, Desktop, and TV panels accounted for 28%, 30%, 12% and 30% of net sales, respectively. In terms of product size, 10-inch and below, 10-to-20-inch, 20-to-30-inch, 30-to-40-inch, 40-inch-and-above panels accounted for 21%, 35%, 16%, 5%, and 23% of net sales, respectively.
What We Think
No real surprises in the overall, but the boost in AUO’s automotive shipments was a good result especially considering how the auto business is doing globally.
Separately, AUO Display Plus, a business unit of AUO, has bought a digital signage CMS firm, Rise Vision for $29 million according to Sixteen-nine.net. AUO Corp previously bought ComQi in 2018 (ISE 2018 Catch Up). (BR)
