Ruiyu, a big network chip maker, received NT $6.377 billion in December, a decrease of 30.51% compared with the same period last year.

CTOnews.com January 5 news, network chip maker Ruiyu today disclosed the financial data of December 2022. Data show that Ruiyu earned NT $6.377 billion (about 1.435 billion yuan) in December 2022, down 12.59% from the previous month and 30.51% from a year earlier.

In the fourth quarter of 2022, Ruiyu achieved revenue of 21.762 billion New Taiwan dollars (about 4.896 billion yuan), a month-on-month decrease of 26.91% and a year-on-year decrease of 20.49%. For the whole of 2022, Ruiyu's cumulative revenue was 111.79 billion New Taiwan dollars (about 25.153 billion yuan), an increase of 5.96 percent over the same period last year.

CTOnews.com learned that due to the continuous decline in demand for network chips and the depressed demand for PC, Ruiyu's revenue in December and the fourth quarter both hit a two-and-a-half-year low.

Taiwan media pointed out that despite the mild inventory adjustment, Ruiyu's revenue continued to decline and is expected to decline 8% in the first quarter compared with the previous quarter. In addition, due to the priority of customers to adjust inventory, specification upgrade action also slowed down, including Wi-Fi 6, USB4, etc., also affected Ruiyu product portfolio.