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BOE’s third-quarter operating income increased by 12.65% year-on-year, and its net profit turned a profit, reaching 286 million yuan (approximately US$39.1 million). Despite showing signs of recovery, net profit still fell 80.68% in the first three quarters. BOE’s overall performance has improved in 2023, but net profits have dropped significantly in the first three quarters, indicating a decline in core business profitability.
In terms of displays, BOE highlighted OLED smartphones in cooperation with companies such as Oppo, OnePlus and Honor, and has also made progress in in-car displays, e-sports displays and VR displays. In the field of flexible OLED, BOE plans to achieve the 100 million piece production milestone. In addition, BOE has expanded into the Internet of Things, smart terminals, healthcare and other fields, but the scale is limited.
Inflation, weak consumer demand and supply chain issues still affect sales and profits, and China’s slowing economic growth is also weighing on demand and earnings. Although BOE demonstrates its diversification strategy, its core business still faces challenges. It’s worth noting that BOE’s healthcare business is growing strongly.
(From: displaydaily Image source: freepik)
