{"id":54548,"date":"2017-12-14T06:34:00","date_gmt":"2017-12-14T06:34:00","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=54548"},"modified":"2017-12-14T06:34:00","modified_gmt":"2017-12-14T06:34:00","slug":"apple-grants-390-million-to-finisar-to-boost-laser-chip-production","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/business\/apple-grants-390-million-to-finisar-to-boost-laser-chip-production.html","title":{"rendered":"Apple grants $390 million to Finisar to boost laser chip production"},"content":{"rendered":"<h2 style=\"text-align: justify\"><span style=\"font-size: 18pt\"><strong><span style=\"font-family: Arial, Helvetica, sans-serif;color: #000000\">Apple grants $390 million to Finisar to boost laser chip production<\/span><\/strong><\/span><\/h2>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">Apple grants $390 million to Finisar to boost laser chip production:- 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\u2019s features such as Face ID, Animoji and portrait mode photos.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">The iPhone maker has committed to spend at least $1 billion through its Advanced Manufacturing Fund in U.S.-based companies to support high-tech manufacturing. The company had awarded $200 million to Gorilla Glass maker Corning Inc in May.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">However, Finisar Corp clarified that Apple\u2019s funding was not a debt or equity investment in the company.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">Finisar\u2019s shares, which rose as much as 30 percent on Apple\u2019s announcement, pared gains to trade up 22 percent following the clarification.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">&#8220;The amount referred to by Apple represents anticipated future business between the companies over a period of time,&#8221; Finisar said in a filing.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">The company will use the grant to reopen a 700,000-square-foot plant in Sherman, Texas to ramp up production of laser chips called vertical-cavity surface-emitting lasers, or VCSELs.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">&#8220;Innovation in the heart of Texas! Proud to team up with @Finisar, the latest recipient from our Advanced Manufacturing Fund,&#8221; Apple Chief Executive Tim Cook said in a tweet.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">The lasers will also be used for 3D sensors in AirPods and Apple\u2019s wireless headphones.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">Finisar is expected to ship products from the plant starting in the second half of 2018.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">Apple said it would buy 10 times more VCSELs than were previously made worldwide in the fourth quarter, compared with a year earlier.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">\u201cApple is accelerating the investment at the second source supplier to diminish its risk.\u201d Needham &amp; Co analyst Alex Henderson said.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">Lumentum Holdings Inc is the top supplier of VCSELs and represents a \u201csingle source risk\u201d for Apple, he said.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">Shares of Lumentum were down 2 percent, recouping from a 12 percent drop earlier in the day.<\/span><\/p>\n<p><span style=\"font-size: 8pt\">Source:-\u00a0https:\/\/www.reuters.com\/article\/us-layer3-m-a-tmobile\/t-mobile-to-launch-tv-service-in-2018-buy-layer3-tv-idUSKBN1E722M<\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/business\/apple-grants-390-million-to-finisar-to-boost-laser-chip-production.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>Apple grants $390 million to Finisar to boost laser chip production Apple grants $390 million to Finisar to boost laser chip production:- 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\u2019s features such [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":54550,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[108992,108993,108994,108995,108996,3299],"class_list":["post-54548","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-apple-grants-390-million-to-finisar-to-boost-laser-chip-production","tag-dave-fellows","tag-g-michael-sievert","tag-j-braxton-carter","tag-jeff-binder","tag-united-states"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/54548","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=54548"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/54548\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/54550"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=54548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=54548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=54548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}