Chi Mei Material profit up
Chi Mei Material Technology Corp (奇美材料), a supplier of LCD polarizers to panel maker Innolux Corp (群創光電), yesterday reported that net profit jumped 52 percent to NT$2.45 billion last year, or NT$4.98 per share, despite an 11.5 percent drop in revenue to NT$17.85 billion. In a separate filing to the Taiwan Stock Exchange, Chi Mei Material said the board had approved a proposal to distribute a cash dividend of NT$0.5 per common share and a stock dividend of 5 percent. The company also said in another filing that it plans to invest US$73.5 million in collaboration with two Chinese organizations to form a joint venture in Suzhou, Jiangsu Province, China, to make polarizers. It will hold 49 percent of the new venture, which will have an initial capital of US$150 million.
DSC sales to remain weak
Digital still camera (DSC) shipments by Taiwanese contract makers will continue their downward spiral this quarter, as vendors struggle to counter the growing use of smartphone cameras, a local market research firm said. First-quarter shipments of Taiwan-made digital cameras are expected to drop 18.8 percent sequentially and 51.6 percent from a year ago to 2.76 million units, Digitimes Research said in a recent note. “The rise of smartphones has continued to erode global demand for digital cameras,” it said, adding that sales have been poor even during peak seasons.