Display manufacturer E Ink Holdings reported its quarterly earnings and sales are down with a net loss of US$33.6 million due to reduced demand for e-paper displays and LCD panels. The quarterly net loss represented a deterioration from the first quarter's net loss of NT$492 million and a net loss of NT$818 million in the second quarter of last year. That also marked the worst quarterly loss in about four years.
Last quarter, E Ink also booked a one-time severance payment of NT$500 million for a 50 percent workforce layoff at its South Korean LCD manufacturing subsidiary Hydis Technologies Co. The number of Hydis employees has been halved before the personal adjustment, E Ink said.
One of the reasons behind this quarter's downturn is attributed to the fact that ereader companies are now updating their products during the third quarter and the company anticipates growth momentum for the holiday season.
E-paper displays made up about 70 percent of the company's overall revenue last quarter, according to E Ink and the company is seeking new growth areas in developing new e-paper applications such as displays for digital magazines, smart watches, handset covers and luggage tags.
Source: Taipei Times
Top image: E Ink Holdings
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