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AAC upbeat over record earnings, upgrades in smart devices

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Edgar Williams
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AAC, which supplies audio components to Apple, reported record profit of 1.10 billion yuan HK$1.25 billion in the third quarter, up from 851 million yuan in the same period last year.

AAC Technologies Holdings, the world s top supplier of miniature audio components for consumer electronics products, expects to benefit from a major upgrade cycle in acoustics in mobile devices from next year, after posting record third-quarter revenue and profit.

In a filing to the Hong Kong stock exchange on Monday, AAC said it was aiming to capture that opportunity by bolstering research and development, and offering a wider range of innovative products .

Shenzhen-based AAC reported a 29 per cent increase in net profit in the third quarter to a record 1.10 billion yuan HK$1.25 billion , up from 851 million yuan in the same period last year, on the back of solid growth across all its major business lines.

Total revenue jumped 32 per cent to a historic high of 4.21 billion yuan from 3.18 billion yuan a year earlier, surpassing the consensus estimate of 4.04 billion yuan.

A major trend expected to benefit the company would be an upgrade of acoustics with increasing adoption of speaker boxes, stereo solutions and waterproof features

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Edgar Williams
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