Taiwan retail tech sector suffers hefty losses amid slowdown

TAIPEI (TVBS News) — As the pandemic situation in Taiwan gradually subsides, the retail tech industry remains clogged with items produced during the height of the pandemic.

With most companies asking employees to return to their offices, the need for personal computers and tablets is poised to continue to decrease. In particular, the third quarter of this year saw display panel manufacturers suffering around NT＄25.89 billion in losses.

Experts point out that the losses may increase as most tech products have relatively short shelf lives. With the ongoing Russia-Ukraine war, the pandemic, and the resulting inflation, Taiwan's economic situation has taken a turn for the worse.

From the dropping sales figures of major manufacturing companies to Taiwan's consumer confidence index (CCI), there seems to be no relief in the last leg of 2022. Industry experts are thus hoping for a brighter outlook in 2023 and for the local tech sector to regain its footing in international markets.