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Taiwan LCD maker AUO's profit plunges 56% as inflation cools demand

Q1 earnings slammed by weaker consumer confidence and falling panel prices

Taiwan's AU Optronics will face a weaker market for LCD panels in the second quarter due to the fallout from the war in Ukraine. (Photo by Cheng Ting-Fang)

TAIPEI -- Taiwanese liquid crystal display maker AU Optronics turned in a net profit of 5.1 billion New Taiwan dollars ($173 million) for the first quarter on Tuesday, the black ink fading 56% from a year earlier as inflationary pressures depressed consumer confidence and demand for electronics.

AUO's sales dipped 2% to NT$81.5 billion. Panel prices have trended downward since peaking in the third quarter of 2021 on stay-at-home demand tied to the pandemic.

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