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Macworld
Apple injects $410M into laser maker as AR glasses rumours swirl
Investing in a future beyond the iPhone. Credit: Apple
Apple has announced it was awarding US$410 million from its Advanced Manufacturing Fund to little-known optical manufacturing company II-VI to create additional capacity and accelerate delivery of future components for iPhone.
The company, which has been an Apple partner since 2017, makes vertical-cavity surface-emitting lasers (VCSELs) that help power Face ID, Memoji, Animoji, and Portrait mode selfies made possible by the True Depth camera system. It also manufactures the laser used in the LiDAR scanner found in the iPhone 12 Pro and iPad Pro. Apple says with an injection of capital will help create 700 jobs across the United States.
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II-VI optimistic as Apple backs further VCSEL expansion and development
06 May 2021
Up to $410M from iPhone makerâs âAdvanced Manufacturing Fundâ to boost production capacity and performance.
II-VI, the US firm that is set to become arguably the biggest photonics company in the world once it completes a merger with Coherent, has reported a sharp annual uptick in revenues.
At $783Â million, sales for the quarter ending March 31 were up 25Â per cent year-on-year - although down slightly on the final calendar quarter of 2020.
Announcing financial results that beat the companyâs February forecast, CEO Chuck Mattera said: âOur supply chain and global manufacturing operations teams kept pace with demand to deliver above the top end of our guidance, and we are optimistic about the future.â
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