The Digital Source For China's Tech Innovation Since 2000

Search
Close

Revenue Losses Affect Chi Mei's Growth

February 16, 2009
Business

Chi Mei Group, the Taiwan-based LCD panel manufacturer, has announced that it made net losses of USD923 million in the fourth quarter of 2008, which is the greatest quarterly loss of an individual company in the history of the panel industry.

Affected by the financial crisis, contracts received by the panel industry declined significantly in the fourth quarter of 2008, leading to a price stumble and enlarged losses on inventory. Chi Mei says its inventory losses in the entire year of 2008 reached USD447 million, of which, USD88.18 million were made in the first three quarters and USD360 million were made in the fourth quarter.

Ho Jau-yang, general manager for Chi Mei Optoelectronics, says that it is still unclear that when the panel industry can revive, but the company will take all efforts to overcome the difficulties. Chi Mei says its expenditures in 2009 will be about USD880 million and its inventory will be controlled below USD735 million. The inventory period for LCD panels will be limited to one month; that of TV panels will be six weeks; and information and electronic products targeted at one month.

Chi Mei predicts that in the first quarter of 2009, its shipment of TV panels will increase 5%; shipment of notebook panels will decrease 20%; monitor panels will increase 15%; and medium and small-sized panels will decrease 20%.

Tags: Chi Mei | Chi Mei Optoelectronics | chip | finance | financial | financial crisis | Gadgets & Electronics | general manager | inventory | IT | LCD | loss | manufacturer | monitor | net losses | notebook | panel | revenue | semiconductor | shipment | Taiwan | Three | TV

Other Related News:

Scientists from China and the United States have created the world’s smallest walking robot

May 28, 2022

CNNIC Releases First WAP Report

May 17, 2007

Will Alibaba Delist? Chinese Company to Comply With U.S. Regulators

August 2, 2022

TikTok owner ByteDance ramps up e-commerce expansion with launch of Fanno shopping app in Europe

December 6, 2021

Skyworth Digital Sold 823,000 TVs In China Last Month

September 23, 2009

Market Analysts see Taiwan Semiconductor Manufacturing Company Limited [TSM] gaining to $120. Time to buy?

December 29, 2021

Episode 379: LinkedIn, Slinkedout: Microsoft and China

October 19, 2021

Dell Products To Enter China's Retail Sector

March 20, 2008

China Promises Software Equality

February 9, 2004
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
Menu
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
© 2022 ChinaTechNews.com. A Service of Asia Media Network.
Twitter
Posting....