Taiwanese motherboard-maker ASRock has stated that graphics card prices are starting to stabilize as demand from miners in mainland China plummets following restrictions on cryptomining across key provinces. Despite this, the company expects record growth in the second and third quarters of the year. Q1 was the best ever quarter for ASRock with the revenue growing sequentially by 39.7% and 167% YoY to $17.88 million.
Most of the company’s revenue comes from the sale of Intel and AMD motherboards, but the ongoing shortages have put a cap on how many boards it can ship. Motherboards account for 50% of its overall revenue, with graphics cards responsible for 20%. Unlike MSI and ASUS, ASRock only sells AMD GPUs, and the acute shortage of the Navi 2x lineup has once again put a dampener on its ambitions in the gaming market.
On the bright side, the company expects shipments of AMD GPUs to improve starting from next month, with increased capacity and supply of substrates. The high-end CPU shortages, however, aren’t expected to improve till the last quarter of the year.