Finisar Corp (FNSR.OQ)
16 Mar 2018
Thu, Mar 8 2018
* FINISAR ANNOUNCES THIRD QUARTER FISCAL 2018 FINANCIAL RESULTS
* FINISAR ANNOUNCES RETIREMENT OF CO-FOUNDER AND CEO JERRY RAWLS AND APPOINTMENT OF MICHAEL HURLSTON AS CHIEF EXECUTIVE OFFICER
SAN FRANCISCO Apple Inc's $390 million deal with chip supplier Finisar Corp announced on Wednesday helps lock in the supply of a component that Apple believes will play a big role in its future products by bolstering augmented reality features.
Apple Inc said on Wednesday it had awarded $390 million to optical components maker Finisar Corp to boost production of laser chips that power iPhone X's features such as Face ID, Animoji and portrait mode photos.
* Shares soar 30 pct, rival Lumentum's stock plunges (Adds Finisar's response)
* FINISAR ISSUES STATEMENT ON APPLE'S $390 MILLION AWARD TO CO
Dec 13 Apple Inc said on Wednesday it would invest $390 million in Finisar Corp, which it will use to build out a plant in Texas to make chips that power popular iPhone features such as face ID, animojis and portrait-mode selfies.
* APPLE AWARDS FINISAR $390 MILLION FROM ITS ADVANCED MANUFACTURING FUND
* FINISAR ANNOUNCES SECOND QUARTER FISCAL 2018 FINANCIAL RESULTS
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