Followed the notice released by the end of January, Osram announced the results of its first quarter of fiscal 2019. The company posted a revenue of EUR 828 million (US$ 934.65 million) which declined by 15% YoY with revenue dropped in three of Osram’s business segments.

The Opto Semiconductors division recorded an on-year decline in revenue of 17% and its revenue of automotive segment decreased by 11 % YoY. In the Digital segment, revenue fell by around 17% YoY due to weak market development in the general lighting segment.

Olaf Berlien, CEO of Osram, said, "There was an increased headwind from our markets in the past quarter. In particular, the automotive cycle has deteriorated significantly. But demand has also declined in the mobile devices and general lighting sectors." The weakening automotive market in China has brought impacts to Osram’s business. Political adversities also led to demand decrease and reduction in customer inventories.

Osram “have taken a number of measures to improve revenue and returns.” The company announced acquisition of a British company to expand its aftermarket automotive business and has continued to extending its photonics and optical technologies beyond lighting such as VSCEL and other laser-based scanning technologies.