BE Semiconductor sees Q1 revenue fall amid weakness in Asia

“The headwinds we face are many, including higher inflation and interest rates, decelerating economic growth, geo-political tensions and ongoing weakness in mainstream electronics, computing and mobile handset end-user markets,” Chief Executive Officer Richard Blickman said in a statement.

In October, BESI expected its revenue in the final quarter to fall between 15%-25%, pointing to uncertainty in the market amid the U.S. curbs on exports to China.

The company generated just 25.9% of its yearly revenue from China against 37.6% reported for 2021 as orders from subcontractors for computing applications in the country fell amid weakening economic conditions.

However, the company said the recent tensions between the United States and China had not hit its sales and orders. Reuters