China Digital TV suffered a further drop in sales of its mostly Cloud-based conditional access.
The company, which operates exclusively in China, saw net revenues decrease by 22.9 per cent to $1.5 million for the six months ended June 30th 2018 from $1.9 million for the same period of the prior year. “The decrease in net revenues was primarily attributable to the decreased product revenues during the first half of 2018,” said the company.
China Digital’s gross profit grew 4.4 per cent to $1.1 million (from $1.07 million y-o-y).
Founded in 2004, China Digital TV is a provider of cloud platforms, with gaming and other applications embedded, to Chinese digital television and telecommunication network operators, enabling them to bring these applications to household television sets and other mobile devices.
As of June 30th 2018, China Digital TV had cash and cash equivalents of $24.6 million.