|Intensifies Efforts in the Smart Home Market; Expands into the Supply Chain of Top-tier Brands|
HONG KONG, June 7, 2018 - (Media OutReach) - China Display Optoelectronics Technology Holdings Limited ("Ch Display Opt" or the "Company", together with its subsidiaries, the "Group"; HKSE stock code: 334) is pleased to announce that the Group is expanding its capabilities to produce 8 to 17-inch medium sized display modules for smart home products and devices by adding new dedicated production lines, in order to optimise product mix and seize market opportunities.
According to the latest report published by IDC, a global market researcher, the global shipment of smart home devices is anticipated to increase from 433 million units in 2017 to 940 million units in 2022, representing a compound annual growth rate (CAGR) of 18.5%. The Group launched a partnership with Baidu AI in March 2018 to introduce its first smart speakers with interactive touch screens, which marked the Group's first foray into the smart home market. With the progress in technologies such as Internet of Things (IoT), artificial intelligence (AI), and face recognition, more and more smart home devices are developed to improve user experience and interaction. The Group believes that interactive touch screens will become one of the major components of smart home products. In view of the booming growth of the smart home market, the Group is expected to capitalise on the development of the market for smart home products and devices (such as smart speakers and smart electronic appliances released by internet companies), and to fully capture the business opportunities in the market by actively expanding its production capabilities. Going forward, the Group also plans to establish cooperation with several top-tier internet brand clients in addition to Baidu AI.
Mr. LI Jian, Chief Executive Officer of Ch Display Opt, said, "IoT and the shift to intelligent devices are bringing continuous innovation to consumer products. User experience is the key determining factor for product differentiation and success. Interactive touch screens are one of the most direct media of this experience. The Group is proactive and committed to developing new products and improving its product mix to cater to the market, which will in turn create positive impact on the sales volume and average selling price of the Group's products as well as the revenue of the Group in the long run. The Group will actively explore the feasibility of venturing into other business, so as to lay a sound foundation for future development in operations to maximise the profit and value for the Group and its shareholders."
About China Display Optoelectronics Technology (334.HK)
Headquartered in China, China Display Optoelectronics Technology Holdings Limited (HKSE stock code: 334) is one of the major providers of small-to-medium-sized display modules in the region. Ch Display Opt engages primarily in the research and development, manufacturing, sales and distribution of LCD modules mainly for handheld mobile devices on an ODM basis. Smartphone LCD module products of Ch Display Opt are welcomed by domestic and overseas manufacturers with sales volume ranking among the top.
For more information, please visit its website at www.cdoth8.com.
Issued by Cornerstones Communications Ltd. on behalf of China Display Optoelectronics Technology Holdings Limited. For further information, please contact:
Cornerstones Communications Limited
Prudence Lai / Sharon Kwok / Yesan Ma
Tel: (852) 2903 9291 / 2903 9288 / 2903 9287
June 7, 2018 20:20 HKT/SGT
Topic: Press release summary
From the Asia Corporate News Network
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