Apple suppliers' divergent results highlight memory price squeeze ahead of new iPhone

Amid rising memory prices impacting profits, two prominent Chinese suppliers for Apple disclosed differing results for the first half of the year. Lens Technology's net income plummeted nearly 50% to 577 million yuan (US$85.8 million) for the six months ending in June, while revenue fell by 12.4% to 28.9 billion yuan, largely due to higher memory costs and reduced production at its Xiangtan facility. In response, Lens is pivoting towards high-end components for an Apple foldable device project, anticipating that deliveries of ultra-thin glass, colourless polyimide film, and 3D glass covers will enhance second-half sales. Analyst Kuo Ming-chi highlighted Lens as a crucial supplier for Apple's flexible screens, with foldable smartphones viewed as a promising segment this year.