Primax Electronics Ltd. (TWSE: 4915) today announced its consolidated revenue for December was NT$4.06 billion, down 18% month-over-month (MoM). The 4Q consolidated revenue amounted to NT$14.02 billion, a 11% quarter-over-quarter (QoQ) decrease. Primax’s 2023 vcumulative consolidated revenue reached NT$60.49 billion, down 24% year-over-year (YoY).

Primax has positioned its operational goals towards profitability focus, strategically expanded into high-value-added products, leading significant improvements in both gross margin and operating margin. December revenue was negatively affected by weak overall audio demand coupled with product life cycle and seasonality impact. As AIoT applications shift from the cloud to edge computing, Primax has capitalized on smart IoT trends, concentrating on smart AI surveillance solutions by offering various innovative solutions, including public safety related products, automotive electronics (ADAS/AVAS), AIoT (B2B) visual solutions, and AR/VR/MR, etc. Primax is committed to invest in professional audio/car audio and actively expanding into new applications.

Looking ahead to 2024, Primax will continue to invest in innovative AIoT applications, and our efforts in past few years shall inject new growth drivers. In addition, in response to AI PC popularity trend, Primax also evolves into a couple new business opportunities. To remain competitive in the rapidly changing market, Primax will continue enhancing operational efficiency, strengthening cost control, implementing risk management, and increasing R&D investment to support long-term growth and future development. Despite the challenging macro environment, Primax aims to maintain solid operational performance.