Ennostar expects to see its shipments of miniLED backlight devices for automotive applications rise substantially in 2023, thanks to its entry into the supply chains of US- and Europe-based car vendors.
The company will kick off related shipments in the fourth quarter of 2022, expecting correspondent shipments to leapfrog 50-100% quarter-by-quarter in the coming year, according to company sources.
However, looking back for the third quarter of 2022, the company may see its revenue retreat at a range higher than its original projection of a high single-digit decline due to deteriorating market demand, said the sources.
The company’s monthly revenue ranged from NT$2.28-2.32 billion (US$75.24-76.56 million) in July-August, and sales in September may turn out to be weaker than expected.
Overall, sales of miniLED devices for IT and large-size applications have been lower than expected in 2022, accounting for roughly 30% of its total revenue. The proportion will likely maintain in the same range in 2023.
However, the sources noted that the increasing automotive miniLED products in 2023 will help boost the company’s profitability in the coming year.
According to an industry estimate, global shipments of automotive displays will likely grow to 207 million units in 2025 and 238 million in 2030, up from 127 million in 2020.