Monthly solar cell sales at Taiwan-based Neo Solar Power Corporation (NSP) increased only 2% q-on-q in October, remaining near record lows as Chinese module manufacturers continue to cut production.
NSP said that sales in October, 2012 reached NT$777 million (US$26.5 million), a 2% increase from sales of NT$764 million in September.
Sales in 2012 peaked in June at NT$1,389 million, significantly below peak sales in August, 2011 when sales reached NT$1,768 million.
Last week, NSP posted Q3 2012 revenue of NT$2,962 million. Gross loss was NT$322 million, with gross margin negative 10.86%.
The solar cell producer said that its financial results had continued to be impacted by overall industry overcapacity within the supply chain as well as being impacted by Chinese producers clearing inventory clearance and resulting fall in average selling prices (ASP).
NSP had noted that PV producers continued to scale-down production and reduce workforce levels to better align with overall demand.