Osram announced that in the first quarter of fiscal year 2019, the company is facing an on-year revenue decline due to the weak Chinese market under the impact of the on-going US-China trade dispute.
According to Osram, the declining market in the end of 2018 has led to poor performance of its three business units, Opto Semiconductor, Automotive and Digital. The revenue of Osram for its fiscal 1Q19 was EUR 828 million (US$ 938 million) with a 15 percent YoY decrease. And the Opto Semiconductors unit recorded a 16.9 percent decline in revenue on a comparable basis in the first quarter.
The company has excluded its North American business, Sylvania Lighting Solution, which was sold to WESCO; and the European luminaire business that is up for sell. Despite the continuous transformation of the company to focus on high technology and high profit businesses, Osram is still affected by the global market uncertainties caused by the US-China dispute. Since China has been one of the fast growing markets for automotive, general lighting and mobile devices, its sluggishness brought negative influences to many global manufacturers.
Osram noted that its Managing Board has initiated a number of countermeasures for increasing revenue. In addition, considerable structural measures have also been initiated in the Opto Semiconductors business unit.
The company will follow its plan to announce the financial figures for the first quarter of the fiscal year 2019 on February 7, 2019.
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