China-based AMOLED producer Everdisplay (EDO) reported its financial results for Q3 2023. Net loss increased to 1.1 billion Yuan ($150 million USD), and total loss in 2023 so far was 2.39 billion Yuan (around $325 million USD).
The company says that the increased loss and drop in revenues were due to the global economic recession and weak demand in the consumer electronics market. The industry is facing a fierce price competition with radical price drops by AMOLED makers causing revenues and losses to decline.