Actions Semi impacted by China's new OTT STB policyMonday, November 30th, 2015
Actions Semiconductor Reports Third Quarter 2015 Results
ZHUHAI, China — Actions Semiconductor Co., Ltd. (Nasdaq: ACTS) (“Actions Semiconductor” or “the Company”), one of China’s leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics, today reported its financial results for the third quarter ended September 30, 2015.
Revenue for the third quarter of 2015 was $13.0 million, as compared to revenue of $13.7 million for the second quarter of 2015, and $13.1 million for the third quarter of 2014.
Commenting on the third quarter results, Dr. Zhenyu Zhou, CEO of Actions Semiconductor said, “As we approach year end, the worldwide semiconductor industry has now experienced slower growth and has not seen the typical ramp in sales leading up to the holiday season. In addition, the PRC government recently imposed a new policy on the OTT set-top box market that is negatively impacting demand. We expect these factors to limit our ability to increase revenue for the next several quarters.