Apple Supplier Is Worst China Performer After Screen Prices Drop
- BOE Tech fell prey to global forces as TV demand evaporated
- The company is now trying to expand its share of OLED screens
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BOE Technology Group Co.’s stock market reversal is dramatic even by China’s outsized standards. It took less than a year for the Apple Inc. supplier to go from one of the nation’s best-performing stocks to among its worst -- a precipitous selloff that may not be over.
China’s largest maker of screens for TVs and phones shed more than 32 percent of its value this year, the steepest decline among the 50 biggest companies listed in Shanghai and Shenzhen. That was prompted by ballooning supply and plunging prices for the large screens that comprise most of its business. Even earning a coveted spot on Apple’s list of top 200 suppliers couldn’t overcome fears that demand-supply imbalances will persist, analysts say.