With customers pulling in orders ahead of schedule, E Ink Holdings expects the second quarter of 2025 to be its strongest second quarter on record — traditionally, its peak performance has come in the third or fourth quarters. The company remains optimistic about the third quarter while the fourth quarter will depend in part on clarity around global tariff policies. Nevertheless, E Ink has dubbed 2025 the "first year of large-format e-paper," with digital signage projected to become its largest revenue stream in the near future.
Thanks to robust demand for electronic shelf labels (ESLs), particularly from US-based clients, E Ink's Internet of Things (IoT) division is also poised for growth in the second quarter. These clients are reportedly advancing their order schedules despite lingering concerns over tariffs under a potential Trump administration return. Meanwhile, in the consumer segment, Chinese clients have advanced orders for e-readers due to a delay in the implementation of new tariffs, further boosting the second quarter revenues.
E Ink prepares for large-format growth
E Ink posted NT$3.249 billion (approx. US$112million) in consolidated revenue in May 2025 — a slight 1.9% decline from April, but a 21.2% year-over-year increase. Cumulative revenue for the first five months of the year reached NT$14.619 billion, marking a substantial 38.9% jump from the same period in 2024.
However, strong second quarter demand has pushed orders beyond current capacity. E Ink's new H5 production line, initially slated to begin manufacturing large-format panels in April, has encountered delays due to technical bottlenecks. Despite this short-term setback, the company remains committed to scaling up production of large-format e-paper via its upcoming H5 and H6 lines. It expects digital signage to eventually become its primary growth driver.
Netronix rides E-reader boom, expands into foldables and large-format E-paper displays
Netronix also had a banner year in 2024, thanks to booming sales of color e-readers. Building on that momentum, the company is optimistic about continued growth in 2025, projecting quarter-over-quarter improvements throughout the year.
In partnership with major Chinese-language e-book platforms, Netronix is aggressively expanding its product lineup. In 2025, it will launch the 7.8-inch BooksPad in collaboration with Books.com.tw, Taiwan's largest e-book platform. Additionally, it is working with Readmoo to debut the world's first foldable color e-reader — a move that has drawn attention from across the industry.
In 2024, color models accounted for 64% of Netronix's e-reader sales, and the company expects that number to exceed 70% in 2025. It is forecasting double-digit shipment growth for the year, driven by strong seasonal demand, particularly in the fourth quarter when e-readers are popular as holiday gifts.
Netronix is also betting big on large-format e-paper signage, with development underway for displays in 13-inch, 31.5-inch, and 75-inch formats. With growing interest in Europe and Japan, and more pilot programs rolling out, the company expects these larger devices to account for 2–5% of revenue in 2025, with potential for exponential growth in 2026.
Overall, Netronix anticipates strong revenue momentum throughout 2025, driven by a diversified portfolio of consumer and commercial e-paper products and a shift toward larger screen formats.
Article edited by Jingyue Hsiao
