Primax Electronics Ltd. (TWSE: 4915) today announced its consolidated revenue for October was NT$4.98 billion, which is a 10% month-over-month (MoM) decrease. For January through October, Primax’s cumulative consolidated revenue was NT$51.45 billion, a 23% year-over-year (YoY) decrease.

Due to the global economic slowdown, demand for consumer related products remains weak, and professional audio products are undergoing inventory adjustments which led corporates more cautious about their capital spending. Primax has been expanding into high value-added products and optimizing its product mix, leading to a significant improvement in gross margin, operating margin and net profit margin.

AI technology has transitioned from the cloud to edge-connected applications (Edge AI). With edge-connected AI technologies booming, Primax has actively engaged in the AIoT industry, focusing on smart AI surveillance solutions which including passenger safety, law enforcement safety, transportation safety, campus & community safety, and broader access control. Primax is proactively investing in emerging technologies such as automotive electronics (ADAS/AVAS), AIoT (B2B) visual solutions, and AR/VR/MR. Primax has captured the industry and technology trends while also maintaining operational efficiency, resulting in a solid operational performance.