Inari's prospects weighed down by weak demand

TheStar Fri, May 26, 2023 09:51am - 2 days View Original

KUALA LUMPUR: The prospects of Inari Amertron Bhd remain dim, said Kenanga Research, as the semiconductor assembly firm guided for modest improvements in the upcoming quarter.

In a results update, Kenanga cited an IDC report that smartphone manufacturers globally have continued to exercise caution and adopted a prudent strategy instead of flooding the channel with excess stock in pursuit of short-term gains.

"Amidst the challenging macro environment, the group anticipates modest improvements in the upcoming quarter, supportedby the very gradual recovery of China's economy and its affinity for the US smartphone brand," it said.

Inari released the results of the third quarter of its financial year yesterday, which disappointed expectations.


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