06.22.2001
Picvue suffers from declining PDA demand

• Development: Market Access (Japan) forecasts 2001 worldwide PDA shipment growth to decline 29% from 80% in 2000. Palm and Handspring both recently announced revenue shortfalls that were about half their current forecasts.

• Analysis: Picvue monthly revenue appears to have declined from April, caused by inventory correction. We expect recovery by 4Q01.

• Primasia View: We revised down our 2001 EPS forecast for Picvue to NT$1.07 from NT$1.49 on the back of a 16% decline of STN-LCD module shipment.

MarthaChen@Primasia.com +886-[0]2-2547-8878