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AUO Reports July Y/Y Revenue Up for the First Time Since 2018

AUO announced July consolidated revenue of NT$22.90 billion (US$778.61 million), up 6.0% sequentially and 3.9% on year. Shipments of large-sized LCD panels exceeded 11.17 million units in July 2020, up by 1.6% sequentially, while small/medium panel shipments reached around 10.19 million units, up by 5.3% on sequentially. AUO president Frank Ko said, increased demand for notebooks and monitors are expected to stretch into 2021. Ko expects automotive applications to also pick up in the fourth quarter due to low inventory levels at channels and relatively strong sales of new as well as used cars in the US. He also expects demand for handsets to recover due to increases in production of 5G-enabled phones, Ko added. The company expects its shipments of large-size panels to grow 4-9% sequentially in third-quarter 2020, with their ASPs moving up 4-6%. Shipments of small- to medium-size panels will fall 1-3%. Overall capacity utilization should be over 90% in the third quarter compared to 90% on average in the previous quarter.