BYD (002594, 1211.HK) said it became one of the 156 suppliers of Apple Inc., triggering sharp gains in its share price and that of BYD Electronic International (0285.HK), reports sina.com.cn, citing a company filing.
BYD Electronic International mainly manufactures and sells handset components such as casings, modules and keypads.
The head of marketing at BYD, Lin Mi, said it supplied core mobile phone components to Apple.
Though Lin said BYD is expanding its business of supplying parts to major information technology companies, he did not disclose the quantity supplied to Apple.
According to Lin, the maker of rechargeable batteries and autos plans to introduce its electric car, e6, into the Hong Kong market in the second half of 2012.
BYD currently sells about 10,000 units of the e6 per month, up from the 7,500 units sold in September 2011, said Lin.
Shares of BYD Electronic International rose 7.56 percent to trade at HK$2.56 per share at 15:29, while BYD was up 7.43 percent to close at 25.3 yuan today.
1 comment:
When you buy a stock like Wallmart Mcdonald's or Apple computer or Wallgreens you are buying very good well run companies. But because of the popularity of these stocks they are not great value investments. The vast majority of your gains when you buy these stocks comes from dividends not captial gains. In other words when you are investing in a very popular mature company most if not all of your gains comes from your dividends. To get lots of potential capital appreciation from your stocks you must look for companies that are out of favor and not as widely followed as these high profile blue chips.
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