Power management IC (PMIC) specialist Silergy is striving to keep its revenue in the second half of this year on par with the year-ago level, despite growing uncertainty over consumer electronics demand, according to company chairman Wei Chen.
Silergy has seen notebook and other consumer electronics customers making major inventory adjustments since late June, and is bracing for a weak second-half 2022, said Chen.
Silergy reported revenue grew 10% sequentially and 23% on year to NT$6.8 billion (US$224.8 million) in the second quarter of 2022, with gross margin reaching 53.53%. The fabless firm generated NT$2.05 billion in net income during the quarter.
Silergy saw sales generated from the automotive sector climb as a proportion of company revenue to 4.2% in the second quarter from 2% in the first, Chen indicated. Despite weakness in consumer electronics demand, the PMIC supplier is upbeat about demand for automotive applications particularly demand coming from China's fast-growing EV market in the second half of this year, Chen said.
Silergy expects sales generated from the automotive segment to account for 3-5% of its overall revenue for 2022.
Silergy also enjoyed stable growth in sales generated from the server segment in the second quarter. Despite customers' near-term inventory correction, the long-term demand prospects are positive in the sector, according to Chen.
