TPK Reports 18% YoY Sales Decline

TPK Holding’s May revenue climbed 13.9% month on month to NT$8.9 billion ($286.4 million), though this was 18.1% lower than May 2014. The company has forecast that revenue in the second quarter will decline 15-20% sequentially, primarily because of reserve adjustments from smartphone and tablet vendors, though wearable device sales will remain steady. As a result, sales in June are also predicted to decline to between NT$6.4-7.8 billion ($206-251 million). From the end of this month, TPK expects its major customers to start placing orders for new products, which will boost its Q3 and Q4 revenue. Approximately 60% of TPK’s total turnover for this year will be generated in the second half of 2015.