Fingerprint Cards Soars on Chinese Phone Deal: Stockholm MoverAdam Ewing
Fingerprint Cards AB, a Swedish maker of biometric security solutions, rose the most in almost a month after winning an order from a smartphone maker in China.
The shares soared as much as 3.2 kronor, or 10 percent, to 34 kronor, their steepest advance since March 14. The stock, which has more than doubled in value so far this year, was trading 4.6 percent higher at 32.2 kronor as of 9:53 a.m. Swedish time, making Fingerprint Cards the third-biggest gainer among the 278 companies on the OMX Stockholm All-Share Index.
Fingerprint Cards, based in Gothenburg, Sweden, said its swipe sensor technology would be used by one of the three biggest smartphone manufacturers in China. The Chinese company’s new model uses Google Inc.’s Android operating system and is scheduled to be unveiled in the second half of the year.
“China is the world’s largest market for smartphones, with a forecast sales volume of 430 million units in 2013,” Chief Executive Officer Johan Carlstroem said in a statement today, adding the country is a “strategically vital market.”
The Swedish company generated 99 percent of its sales in Asia last year, according to data compiled by Bloomberg. Fingerprint will open a new sales and support office in Tokyo to support demand, it said on Jan. 7.