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Shares of smartphone component makers are sliding across the board in Hong Kong amid sluggish market demand. FIT Hon Teng is sliding 11.5% as of 11:33 am local time, Sunny Optical down 4.4%, BYD Electronics down 3.2%, AAC Tech down 3.2%, Q Tech down 2.4%.
Sunny Optical Technology, the largest manufacturer of smartphone camera modules and lenses in mainland China, said on Tuesday that its shipments of handset lens declined by 14.9% in July from a year earlier, due to weakness in the smartphone market. Read more …
FIT Hon Teng Lte said on Tuesday that the global smartphone demand is dampened by rising inflation and the company has noticed the potential downtrend in handset shipments, though it remains positive about high-end market.
Global smartphone shipments hit the lowest quarterly number in two years after inflation and recession fears hurt consumer confidence, according to market research firm Canalys. The quarter saw a 9% fall to roughly 290 million units shipped, with Chinese vendors leading the declines, it said. Read more …
