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China Digital TV struggles

Chinese ‘smart card’ supplier China Digital TV Holding reported a disappointing set of Q4 and full-year results on March 3rd (for the trading period to December 31st).

Smart card shipments decreased during Q4 by 31.3 per cent to 3.54 million (5.15 million in the same period in 2014). For the full year card shipments fell 30.2 per cent to 10.88 million (from 15.6 million in 2014). The company blamed “a decrease in revenues from the sales of smart cards caused by the general market decline of the mature CA business”.

Revenues from the company’s top five customers accounted for 33.9 per cent of total revenues, compared to 26.9 per cent in the prior year, primarily attributable to the consolidation of certain cable operators in the market.

Revenues from smart cards decreased by 35.1 per cent to $43.5 million in 2015 from $67.1 million in the prior year. The decrease was mainly due to a decline in shipment volumes of smart cards. Sales of smart cards as a percentage of total revenues remained stable at 81.1 per cent in 2015, compared to the prior year.

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