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China tech

Panel maker BOE sees profit jump ninefold on stay-at-home demand

Industry consolidation in China buoys bottom line as pricing pressure eases

Shipments of BOE's organic light-emitting diode panels more than doubled for the first quarter of 2021. (Photo courtesy of the company)

BEIJING -- Leading Chinese display maker BOE Technology Group expects net profit for the January-March period to increase roughly ninefold on the year as consumers stuck at home due to the coronavirus pandemic snap up computers and TVs.

BOE's net profit likely reached 5 billion yuan to 5.2 billion yuan ($764 million to $794 million) for the quarter -- roughly equivalent to the company's total for all of 2020 -- according to a Monday release.

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