Chi Mei Optoelectronics Corp (
"The first quarter will not be as slow [as it used to be]," Hsu Chun-hua (
First-quarter demand for large-sized liquid-crystal-display (LCD) panels for flat-screen televisions should remain as strong as it was in last quarter following a galvanizing 3 percent to 5 percent price cut, Hsu said.
He added that the price cut would not hurt the company's bottom line as the move was a result of cost reduction. Panel prices will stabilize through the second quarter, Hsu forecasted.
Chi Mei, which has a leading position in producing bigger-sized flat panels used for flat-screen televisions, said TV panel sales made up about 15 percent of its total revenue last year.
Hsu's optimism is also based on the company's expectations that ongoing strong demand for panels used for notebook and desktop computers would not subside during the second quarter.
Eddie Chen (
Chi Mei said the TV panels sales accounted for about a quarter of its first-quarter revenue of NT$21.28 billion, a big increase from the NT$10.5 billion recorded a year ago.
In terms of unit shipments, Hsu expected Chi Mei's 20-inch, or bigger panels, shipments to stay at a high level of around 800,000 units per month, similar to that of December.
"The 2 million shipment target set previously will remain intact," he said.
Chi Mei aims to take about 20 percent of the global market in large-sized LCD panels used for TV sets this year based on estimates that global demand for flat-screen TV will surge to 10 million units.
"The target is realistic. And that will give Chi Mei a good chance to see earnings double this year, if fulfilled," said Alex Wu (
Roger Yu (
Yu predicted that Chi Mei's after-tax earnings would grow to about NT$16.4 billion, or NT$4.8 a share, this year from some NT$7.15 billion last year.
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