Primax Electronics reported a 10% monthly and 20% annual decrease in October revenue. Cumulative revenue for the first ten months also saw a substantial 23% year-on-year decline. General Manager and CFO, Xiao Yingyi, noted a deceleration in demand across various sectors, except for brisk e-sports orders. As a result, the fourth quarter is anticipated to witness double-digit year-on-year drops in revenue and profits.
In response to shifting market dynamics, Primax Electronics is proactively venturing into the field of AIoT (Artificial Intelligence Internet of Things), with a strong focus on advanced AI security monitoring solutions. This expansion encompasses a broad spectrum of safety applications, ranging from pedestrian and law enforcement safety to transportation, community, and border management.
Moreover, the company is actively exploring emerging technology domains such as automotive electronics (ADAS/AVAS) and AIoT (B2B) vision solutions, including AR (augmented reality), VR (virtual reality), and MR (mixed reality). By aligning with industry and technological trends, Primax Electronics remains committed to enhancing operational efficiency and ensuring stable overall performance. The pursuit of high-value AIoT solutions marks a strategic move towards sustained growth and relevance in a dynamically evolving market landscape.
