Weak iPhone demand hits Face ID provider
05 February 2019 16:38 GMT

AMS, which supplies Apple with sensors for its Face ID technology, has reported a 58 percent decline in fourth quarter core profit, its guidance and the suspension of a dividend payment for 2018.The Austrian group decided against giving a full-year earnings forecast after a downturn in 2018 results, saying shorter order cycles reduced visibility in a difficult market environment, reported Reuters.

However, this sent the stock down 15 percent.

The shares tumbled 75 percent last year while the European sector index lost 11 percent and Apple shares 9 percent.

“Given a market we are seeing that is very volatile and hard to read and also demand that is smaller than we had envisaged, we see first quarter sales of $350-390 million,” Chief Executive Alexander Everke said at a news conference in Zurich.

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