Analog IC supplier On-Bright Electronics is expected to see its revenues grow 50% sequentially in the second quarter of 2017 due to increasing demand for its fast-charging chips from China-based smartphone vendors, according to a Chinese-language Commercial Times report.
On-Bright has managed to secure orders for fast-charging chips from major smartphone vendors in China, with a strong pull-in of orders from Oppo, Vivo and Xiaomi at the end of the first quarter, said the paper.
Benefiting from the rising popularity of USB Type-C, shipments of On-Bright's USB-PD chips to smartphone vendors and notebook makers are to start gaining momentum from the second quarter, the paper added.
The company reported consolidated revenues of NT$255 million (US$8.38 million) for March, up 52.7% on month and 0.33% on year. For the first quarter of 2017, revenues totaled NT$653 million, down 0.09% on year.
The company's stock price dipped NT$1.50 to finish at NT$190.00 on the Taiwan Stock Exchange (TSE) during the April 19 session.