Primax Electronics Ltd. (TWSE: 4915) today announced its consolidated revenue for October amounted to NT$4.64 billion, down 6.8% year-over-year (YoY). For January through October, Primax’s cumulative consolidated revenue was NT$49.67 billion, down 3.5% YoY.

In response to demand slowdown, conservative forecast and inventory build-up from customers, Primax has demonstrated its operational resilience by focusing on niche market to improve gross margins and enhance profitability. The company continues to advance its multi-sensor ecosystems, leveraging off its X-in-one sensory fusion capability across diverse applications, including public safety solutions, AIoT (B2B) visual solutions, industrial vision and acoustic detection technologies which provides solid foundation for long-term growth.

Furthermore, Primax capitalized on group synergies to foray AI conferencing and automotive markets, such as AVAS, External Audio Receivers (EARs), and car audio systems, offering diverse and customized solutions to meet customer needs. The company plans to further increase R&D investment and drive technology innovation to fuel in long-term growth drivers and maintain solid operational performance despite of challenging macro market conditions.