Apple Investing $390 Million In Finisar From Its Advanced Manufacturing Fund

by Linda Olson December 16, 2017, 5:51
Apple Investing $390 Million In Finisar From Its Advanced Manufacturing Fund

Finisar has clarified that the $390M contribution from Apple's Advanced Manufacturing Fund announced yesterday is not an investment in the company, but rather an agreed payment for anticipated future orders.

The key question, analysts said, is to what extent Apple's deal with Finisar will block rivals like Samsung and Huawei from being able to build phones with 3D sensors because they will not be able to secure the needed supply of lasers.

Apple announced the creation of the fund in May and plowed $200 million into Corning Inc., the maker of the Gorilla Glass, which is used in Apple's touchscreens. Finisar already has a plant nearby in Allen, Texas.

The new facility is expected to open in the second half of next year. Apple says that in the fourth quarter of 2017 it will purchase "10 times more VCSEL wafers than were previously manufactured worldwide over a similar time period".

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VCSEL technology is a better performing, more compact and cost-efficient solution compared to traditional edge-emitting lasers for many emerging applications.

The move is said to be part of Apple's strategy to lock in the supply of a component that the company believes will be crucial for its future products with AR features. "Technology is only as good as the people behind it, and Finisar is a company with a long history of putting its employees first and supporting the community it's a part of".

Finisar CEO Jerry Rawls said: "When you combine our proven ability to consistently manufacture exceptional products with our new state-of-the-art Sherman facility, we're confident we can achieve our shared goal of providing consumers with incredibility exciting features". Trump ran his presidential campaign on promising to bring jobs back to America.

More than 500 jobs will be created as a result of Apple's investment. There have been rumors indicating that Apple will use the Face ID on upcoming iPhones and iPads.


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