19 Jun 2023

Sunny held Investor Day on June 15, focusing on smartphone industry updates; automotive products development; and AR market outlook. The company trimmed down its 2023 global/ China smartphone shipment forecast by 6.6%/ 5.5% to 1.10bn/ 260m units, decreased 6.3%/5.1% YoY as compared to the company’s original forecast at the beginning of 2023.  Management highlighted smartphone manufacturers are still facing declining profits on weak market demand, intensive competition, and de-spec trend.

CROSBY Research – Sunny Optical (2382 HK/BUY): Key Investor Day takeaways: Cut global/China smartphone shipment forecast; re-emphasis opportunities in automotive and AR businesses