By a News Reporter-Staff News Editor at Electronics Business Journal -- 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, announced that it is lowering its revenue guidance for the second quarter of 2014 based on the Company's preliminary review of its anticipated financial performance.
For the second quarter of 2014, Actions expects to report revenue of approximately $12.0 million. The Company's previous guidance for the second quarter of 2014 was for revenue in the range of $15.0 to $17.0 million. The lower revenue guidance was primarily the result of soft overall demand from whitebox tablet manufacturers along with fierce competition from new, major players entering the whitebox tablet market.
"While our second quarter revenue came in below expectations, we expect shipments to improve in the second half of the year as customers in North America and Europe begin gearing up for their peak season starting in the third quarter. The overall tablet SoC market has slowed considerably, and we expect our 2014 results to reflect this. However, we are optimistic about the coming year and the potential for our future new product enabled by 28nm process technology and 64-bit CPU to attract both branded and whitebox tablet and OTT set top box manufacturers when it is introduced later this year," said Dr. Zhenyu Zhou, CEO of Actions Semiconductor.
Additional information for the second quarter will be available when Actions reports its quarterly results in August 2014. The Company will issue a press release announcing the details of its second quarter conference call closer to the date.
Keywords for this news article include: Electronics, Actions Semiconductor Co. Ltd..
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