AMES OSRAM achieves revenue of 847 million euros in Q1 of fiscal year 2024

In the Q1 report of fiscal year 2024, ams OSRAM stated that with the cancellation of the Micro LED project, the company has adjusted its development strategy accordingly and strengthened its investment in the automotive field, the largest LED market segment. The company plans to gradually withdraw from the 8-inch wafer factory and focus the development of Micro LED technology on automotive demand to accelerate the realization of positive growth of free cash flow in 2025. During the Q1 reporting period, the company achieved revenue of 847 million euros (about 6.568 billion euros), a decrease of 7% from the previous month. On the same basis (excluding portfolio or currency effects), compared with the net base of 817 million euros in Q1 2023, revenue increased by about 5% year-on-year. The main driving force for the year-on-year growth was the automotive and consumer semiconductor business, while the industrial business was still weaker than the same period last year. During the Q1 reporting period, ams OSRAM's semiconductor business unit achieved revenue of 578 million euros, accounting for 68% of total revenue. The automotive market demand was good, and the related revenue increased by 13% year-on-year; the industrial and medical terminal markets were still weak; in the consumer market, the demand for Android mobile phone-related businesses was strong, and the related shipments increased by 15% year-on-year.