Mobile revenues reach record height as its visual processing technology was integrated into five new smartphones.
Pixelworks (NASDAQ:PXLW), visual processing company reported record momentum in its mobile division, following the integration of its display solutions into five smartphones and four clients, including Nokia. Despite record mobile growth, year-over-year revenues declined from US$21.5 million in the third quarter of 2018 to US$18.1 million in Q3 2019.
As quoted in the press release:
President and CEO of Pixelworks, Todd DeBonis, commented, “Our third quarter results played-out largely as expected, as we continued to execute strongly in mobile and across all other areas of the business. Revenue from mobile increased 66% year-over-year to a new record, and we recorded the first commercial revenue from both our Soft Iris solution and our 5th generation Iris visual processor.
“As a result of expanding Pixelworks’ portfolio of hardware and software-based visual display solutions, we have continued to generate increasing momentum on our mobile growth initiatives as well as key customer engagements. During the quarter, we announced design wins on five newly launched smartphones across four different OEMs, while also supporting active programs with key customers on their planned next-generation mobile devices.”