Business
Pixelworks Reports Fourth Quarter and Full Year 2019 Financial Results
Mobile reaches record 24% of quarterly revenue on continued momentum and tier-one OEM engagements SAN JOSE, Calif., Feb. 06, 2020 (GLOBE NEWSWIRE) --
About this update from Pixelworks, Inc.
[{"type":"text","content":"Mobile reaches record 24% of quarterly revenue on continued momentum and tier-one OEM engagements\nSAN JOSE, Calif., Feb. 06, 2020 (GLOBE NEWSWIRE) -- Pixelworks, Inc. (NASDAQ: PXLW), a leading provider of innovative video and display processing solutions, today announced financial results for the fourth quarter and full year ended December 31, 2019.\n Fourth Quarter and Recent Highlights Mobile revenue increased 140% sequentially and more than 400% year-over-year, driven by increased customer engagements and initial ramp to support multiple next-generation smartphonesSigned multi-year collaboration agreement with OPPO Group to develop advanced display systems for smartphones, including the integration of Pixelworks’ visual processor and software solutionsEntered collaborative partnership with Coolpad to incorporate visual processing technology in next-generation devicesExpanded footprint in China with new Shenzhen engineering facility to support growing engagements with smartphone OEM customersAirTV 2 Wi-Fi-enabled tuner for HD over-the-air (OTA) TV launched with Pixelworks’ video processing and transcoding technologyLaunched new EasyOTA solution, a universal OTA integration platform for service providers Full Year 2019 End Market Highlights Mobile revenue increased over 170%, with Iris visual processing solutions launched in six smartphones across four OEMs, and qualification of TrueCut-enabled HDR expanded to over 130 phone modelsExpanded mobile product portfolio and market opportunity with the introductions of 5th generation Iris visual processor, Soft Iris display calibration software and TrueCut video content platformEntered collaboration agreements with key mobile ecosystem partners, including Qualcomm, HMD Global and YouKuVideo content in TrueCut format expanded to more than 20,000 hours, with potential reach increasing to approximately 70% of YouKu’s 140 million daily active usersVideo Delivery revenue grew 23% in support of demand for transcoding solutions from both leading consumer electronics customers in Japan and OTA devices in the U.S. President and CEO of Pixelworks, Todd DeBonis, commented, “The fourth quarter played out as expected, with results that were in-line with our guidance. Although consolidated revenue reflected the anticipated headwinds in both our projector and video delivery end markets, we continue...