But growth rate sharply plunged to 9%.
According to Maybank Kim Eng, Skyworth released Dec TV shipments yesterday after market closed. Dec TV shipments in total rose 9% YoY and 33% MoM to 1.4m units.
The shipments for China and overseas grew 5% and 29% YoY respectively, which amounted to 1.2m and 0.3m units for Dec. For the first nine months of FY3/13, Skyworth has shipped a total of 8.7m units, representing an achievement ratio of 82.5% for its full-year target of 10.5m units.
Here's more from Maybank Kim Eng:
The growth rate in shipments slows from 44% YoY growth in Nov to 9% YoY growth in Dec. However, we expect the growth rate likely to pick up in Jan, due to 2013's Chinese New Year (CNY) falls in Feb compared to Jan in 2012 and the one month period before the CNY typically being Skyworth's peak month in the past.
On the ASP front, Dec ASP in China also improved nicely with 2.1% YoY growth (vs. 0.1% YoY growth in Nov). We attributed the improvement in ASP due to better product mix as high-end TV (3D TVs and cloud TVs) account for 53% of Skyworth’s total TV shipments in China in Dec (vs. 51% in Nov).
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