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E Ink Holdings Reports 1H11 Sales of NT$ 17.01 Billion, up 67% Y-O-Y

07/07/2011 | 06:30pm EDT

E Ink Holdings (8069.TW) today reported its June parent sales of NT$1.84 billion and consolidated sales of NT$ 2.38 billion, up 73% and 40% Y-o-Y respectively. Its year-to-date consolidated sales was NT$17.01 billion, up 67% Y-o-Y.

While the second quarter is traditionally the low season for the electronics industry, the global eReader market has grown significantly from the same period last year, with E Ink's EPD (electronic paper display) shipments in-line with the forecast for the second quarter and on track for the remainder of the year.

"Many market research organizations estimate that the global eReader shipment will at least double that of the previous year, and we have to agree with them," said Dr. Scott Liu, CEO of E Ink Holdings." E Ink's capacity expansion plan and the customers' orders are both on schedule."

According to the Pew Internet Project, the share of adults in the United States who own an eBook reader doubled to 12% in May 2011 from 6% in November 2010. However, tablet computers have not seen the same level of growth in recent months. In May 2011, 8% of adults report owning a tablet computer, which represents just a 3 percentage-point increase in ownership since November 2010.

"When it comes to reading digital content, most people will look for a device that is more convenient than physical books but which provides the same paper-like reading experience. With E Ink's display technology, an EPD eReader provides consumers with those benefits as well as sunlight readability, low power consumption, and easiness to carry, which differentiates eReaders from the tablet computer in terms of market positioning and functionality. Most people use tablet computers for multimedia content and games rather than reading," explained Dr. Liu. "Since tablet computers hit the market in 2010, the eReader market has grown 200% compared to the previous year. We estimate that our EPD shipments will continue to grow sequentially this year."

On the other hand, the advanced FFS TFT-LCD technology, patented by E Ink's subsidiary Hydis, has been adopted by most tablet computers and many smart phones, and it has now become the mainstream display technology for the portable devices. "Our FFS customers will be launching their new products in the coming two quarters," said Mr. Fred Lin, COO of E Ink. "We are very positive on the FFS panel sales for the second half of this year."

About E Ink Holdings Inc.

Founded in 1992 by Taiwan's leading papermaking and printing group YFY (1907.TW), E Ink Holdings Inc. "E Ink" (8069.TW) is the pioneer of TFT and ePaper business in Taiwan. Its corporate philosophy aims to deliver revolutionary products, user experiences, and environmental benefits through advanced technology development. This vision has led to its continuous investments in the field of ePaper display as well as its 2008 acquisition of Hydis Technologies, manufacturer of the world's best wide viewing angle LCDs and its 2009 acquisition of E Ink Corp., the worldwide leader in ePaper. Listed in Taiwan's OTC market and the Luxembourg market, E Ink is now the world's largest supplier of displays to the eBook market. For more information, please visit www.pvi.com.tw

E Ink Corporation / US
Schwartz Communications
Bill Donlan or Jennifer Barlow, 781-684-0770

ę Business Wire 2011
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