Handset component maker Ichia Technology has announced that consolidated revenues for April 2011 declined almost 19% sequentially to NT$532 million (US$15.6 million), citing a slowdown in orders. The company expects sales to grow by a single-digit rate sequentially in the second quarter, judging from the present order visibility.

Ichia previously expressed optimism about the outlook for the current quarter while acknowledging rising demand for smartphones and tablet PCs.

Ichia makes keypads and flexible PCBs (FPCB) for use in mobile phones and other consumer technology products. Sales of the two product segments saw sequential decreases in April, the company indicated.

Ichia accumulated NT$2.51 billion in consolidated revenues from January to April, up about 13.3% from the same period of 2010.

In addition, Ichia said it recently signed a three-year, NT$2 billion syndicated loan provided by seven banks to fund its upcoming capacity expansion as well as strengthening the company's financial capability.

Ichia is set to expand its FPCB capacity to 120,000 square feet a month in the second half of 2011, up from the current level of 80,000 square feet, according to the company. Sales of FPCB are expected to account for more than 70% of Ichia's total sales for 2011, up from 60% last year, the company said.

Ichia reported NT$1.98 billion in consolidated revenues for the first quarter of 2011, down 24% on quarter. The drop was mainly due to requests from several of its clients to postpone deliveries as they are impacted by supply-chain disruption following the Japan earthquake and tsunami.