Novatek, a leading integrated circuit (IC) manufacturer, reported a decline in September revenue, falling below NT$9 billion (US$282 million). The company’s consolidated revenue for the month reached NT$8.92 billion (US$280 million), marking a 7.9% decrease from August and a 6.7% drop year-over-year.
Despite the monthly setback, Novatek’s third-quarter performance aligned with financial forecasts. The company’s Q3 consolidated revenue totaled NT$27.87 billion (US$875 million), down 6.9% quarter-on-quarter but up 10.4% from the previous year.
Novatek cited slower-than-expected semiconductor recovery as a factor in its performance. However, the firm noted increased stocking of new mobile phones in preparation for the peak sales season. The company’s mobile phone OLED panel distribution showed the strongest demand among its product lines.
Looking ahead, Novatek plans to launch an 8K TV ASIC solution in 2025, which is expected to contribute to revenue. The company is also set to introduce its OLED TDDI for mass production in Q2 2025 and is developing high-voltage FinFET technology to meet customer needs.
Novatek will hold its Q3 financial report briefing on November 6, where management will provide insights into current industry conditions and outlook for the consumer market in 2025.
