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Innolux vows to take back 1st place in automotive panel market

Innolux vows to take back 1st place in automotive panel market

Display panel maker Innolux (3481) stated on Wednesday that its shipment of automotive panels for the first half of the year was 7.32 million units with 16.8 percent market share to take the second spot rather than the sixth place as a market research indicated.

The company said that a market report issued by DisplaySearch on September 30 on Innolux’s global market share of 9 percent in automotive panel shipment was not true.

The report also noted that Innolux will aim at improving profits by reducing shipment of low-cost panel to the mainland market and increasing shipment of high-end automotive panels to the European and the U.S. markets. Innolux clarified that the company is dedicated to improving operational profits and will continue to serve its clients in both European/U.S. and mainland China markets with different focus on pre-market and after-market trading. Innolux shares climbed 0.4% to close at NT$12.8 per share on Wednesday.

Innolux also posted its September revenue of NT$38.5 billion on Wednesday, rising 0.8% on month and 18.8% on year; for Q3 revenue, it was NT$113.1 billion, growing 1.8% on quarter and 16.3% on year.

The company's large-size panel shipment for September was 12.67 million units, decreasing 1.3% from August, while its shipment for the third quarter declined 0.4% to 37.14 million units from Q2. Innolux’s small- to medium-size panel shipment for September increased 7.2% to 25.66 million units on month but declined 10.3% to 77.95 million units for Q3 from Q2.

Updated : 2021-07-24 04:10 GMT+08:00