台湾PMIC厂商9月营收分化：PC敞口拖累昂寶、力智，致新、通嘉逆势增长

Taiwanese power management IC (PMIC) vendors reported their September and third-quarter 2026 revenue, with results diverging as PC exposure widened the performance gap. Global Mixed-mode Technology and Leadtrend posted both quarter-over-quarter and year-over-year growth in the third quarter, while Anpec Electronics and uPI Semiconductor reported declines from the previous quarter, amid weak PC supply-chain demand.

Anpec reported a September revenue of NT$609 million (US$19.08 million), down 8.4% month-over-month and 9.2% year-over-year. It was the company's first monthly year-over-year decline since November 2024.
Revenue for the third quarter reached NT$1.98 billion, down 4.3% from the second quarter's high and roughly flat from the same period in 2025.
Anpec's largest revenue source is fan motor driver ICs, which account for about 45% of sales and are mainly used for notebook and graphics card cooling. Together with PMICs for notebooks and motherboards, the product mix shows that PCs are a core business for the company.
Anpec's rapid growth in recent years was driven in large part by the notebook industry's shift toward designs with more fans, underscoring the significant impact of the PC market on its operations.
Diversified vendors outperform PC-reliant peers
By contrast, Global Mixed-mode has a more diversified application mix, spanning PCs, displays, and TVs as well as newer businesses such as automotive, industrial control, and memory, which the company has recently been targeting aggressively.
Global Mixed-mode posted a September revenue of NT$828 million, up 3% month-over-month and 14.2% year-over-year. Third-quarter revenue was approximately NT$2.47 billion, up 10.4% quarter-over-quarter and 11.5% year-over-year, marking its highest quarterly level since the first quarter of 2022.
The company previously said demand across its product lines remained strong and that the company was operating in a supply-constrained market.
Leadtrend reported a September revenue of NT$150 million, down 3.8% month-over-month but up 34.7% year-over-year. Third-quarter revenue reached NT$460 million, up 5.8% quarter-over-quarter and 40.7% year-over-year.
PC applications account for approximately 30% to 40% of Leadtrend's revenue, but its growth has primarily come from the adoption of new projects. Brand-name PC makers began introducing new designs earlier in 2026, allowing Leadtrend to win multiple projects with solutions integrating AC/DC, synchronous rectification, power delivery control ICs, and metal–oxide–semiconductor field-effect transistors (MOSFETs).
The company also continues to see solid demand from a range of non-PC applications.
Chip vendors have recently said that rising memory and CPU prices are prompting notebook brands to build inventory earlier. As a result, some second-half demand shifted into the first half, making an underwhelming third-quarter peak season widely expected.
The shipment mix for notebooks in 2026 could therefore reverse, with first-half shipments exceeding those in the second half.
Global Mixed-mode chairman Chin-chuan Wu also said at the company's previous earnings briefing that the market had already forecast a roughly 10% decline in PC sales in 2026, and that demand in the second half should be viewed cautiously.
Looking ahead to the fourth quarter, the PC industry is entering its traditional off-season while memory and CPU costs continue to rise. Vendors with greater PC exposure are likely to face a more conservative operating outlook.
Nevertheless, all of the vendors are accelerating efforts to increase the share of non-PC revenue. This will determine how strongly the current PC correction affects their results. Given ongoing shortages of memory and CPUs, the impact could extend into 2027, creating further revenue challenges for these companies.