MagnaChip Q3 Revenue Down 17.1%, Expects FY Revenue to Fall 3.8%

MagnaChip Semiconductor Corp reported a 17.1% YoY decline in Q3 revenue. The company expects FY revenue to fall 3.8%. The decline in revenue is attributed to the semiconductor industry's slowdown. MagnaChip's Standard Products Group, which includes Display Solutions and Power Solutions, provides products for panel displays, power management, and automotive applications. The company's revenue decline is a reflection of the broader semiconductor industry's challenges.