Battery Giant TDK Expects Virus to Boost Gadget, Auto Prospects
- Former cassette-tape maker is now a leading battery supplier
- CEO sees opportunity as pandemic worries hasten tech adoption
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TDK Corp. sees a silver lining to the coronavirus pandemic in a boost to demand for its batteries and sensors in electronic gadgets and a long-term push toward greater use of tech in the auto industry.
Once ubiquitous across cassette tapes and compact discs, the Japanese household name now provides batteries for one in three phones globally. Though TDK has seen revenue fall as U.S.-China trade tensions weighed on auto sales, the outbreak should quicken digitization across the home and industry and propel imminent demand for batteries in personal devices and long-term demand for sensors in connected cars, Chief Executive Officer Shigenao Ishiguro said in an interview.