Lite-On Technology Corp. reported a 10.45% quarter-on-quarter increase in revenue for the third quarter, reaching NT$36.77 billion (US$1.15 billion), despite a slight dip in September sales. The Taiwanese electronics manufacturer’s monthly revenue fell 1.7% from August to NT$11.85 billion (US$371 million), marking a 15.96% year-on-year decline.
The company’s year-to-date performance shows a broader slowdown, with revenue for the first nine months of 2023 dropping 11.3% compared to the same period last year, totaling NT$98.83 billion (US$3.09 billion).
Lite-On’s optoelectronics division, accounting for 21% of September revenue, saw growth in high-end optocoupler products and invisible light sensing applications. The cloud and Internet of Things segment, representing 34% of monthly sales, benefited from stable demand in cloud computing and high-end servers.
The information and consumer electronics sector, contributing 45% to September’s revenue, experienced steady growth in high-end power supplies and smart input devices, reflecting the company’s efforts to optimize its product mix.
Despite the overall revenue decline, Lite-On’s focus on key growth areas and product diversification may help mitigate broader market challenges in the electronics industry.
