Apple Supplier AAC Says It Won Orders for New IPhone, IPad
Stock Chart for Apple Inc (AAPL)
AAC Technologies Holdings Inc., a Hong Kong-listed supplier of microphones and mini-speakers to Apple Inc. (AAPL), said it clinched orders to make components for new iPhone and iPad versions.
“We are one of the suppliers” for the next-generation iPhone, Richard Mok, chief financial officer at AAC, said in an interview in Hong Kong yesterday. AAC is “ready” to ship components for the next version of the iPad, Mok said. He didn’t say when Apple will release the new products.
Apple plans to introduce a new iPhone that boasts a stronger chip for processing data and a more advanced camera, two people familiar with the product said in June. Demand for the iPhone and iPad, Apple’s two best-selling products, helped the Cupertino, California-based company leapfrog Microsoft Corp. (MSFT) as the world’s most valuable technology company.
“The quality and reliability of our products satisfy the requirements of Apple,” Mok said. “Naturally we have a good opportunity to supply them for their next-generation phone.”
Carolyn Wu, a spokeswoman at Apple in Beijing, declined to comment on orders for AAC or when Apple will introduce new iPhone and iPad versions.
AAC, which competes with suppliers including Dover Corp. (DOV)’s Knowles unit, last week said first-half profit jumped 33 percent as orders for parts used in phones and tablets surged.
The Chinese company, which started shipping parts for the iPad 2 this month, rose as much as 6 percent to HK$17.28 in Hong Kong trading today. Dover, based in Downers Grove, Illinois, rose 0.5 percent to $57.52 in New York yesterday.
Apple is AAC’s biggest customer, accounting for more than a quarter of first-half revenue, Mok said. AAC also supplies components for customers including Samsung Electronics Co. and Nokia Oyj (NOK1V), he said.
First-half profit rose to 509.3 million yuan ($80 million) from 382.3 million yuan a year earlier, AAC reported on Aug. 26. Revenue rose 41 percent to 1.88 billion yuan.
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