Goertek Soars After Analyst Says Chinese Apple Supplier Is Back Making Airpods Again
Dou Shicong
DATE:  Feb 03 2023
/ SOURCE:  Yicai
Goertek Soars After Analyst Says Chinese Apple Supplier Is Back Making Airpods Again Goertek Soars After Analyst Says Chinese Apple Supplier Is Back Making Airpods Again

(Yicai Global) Feb. 3 -- Goertek surged by the exchange-imposed limit today after an industry analyst said that the Chinese manufacturer of Apple’s headsets has received new orders for AirPods after the US tech giant withdrew its business in November last year due to quality issues.

Goertek’s share price [SHE:002241] surged 10 percent to close at CNY22.12 (USD3.28). The stock has gained more than 30 percent in value so far this year.

Goertek is preparing to start making Airpods Pro 2 again, which will help boost profit and revenue, Ming-Chi Kuo, TF International Securities, said on Twitter today. The firm’s AirPods 2, AirPods 3, and component orders have not been affected.

Goertek has also received an order for California-based Apple’s next-generation smart speaker the HomePod mini 2, which will be shipped in bulk in the second half of 2024, Kuo added.

In November last year, Goertek said that one of its main foreign customers was suspending production of a smart acoustic product. Kuo revealed at the time that the order was for AirPods Pro 2s and that due to quality issues the order had been given to rival Luxshare Precision Industry.

The lost contract will cause Goertek’s profit for the year to at least halve and will reduce revenue by as much as CNY3.3 billion (USD489.1 million), around 4.2 percent of the Weifang, eastern Shandong province-based firm’s revenue the previous year, it said at the time.

Editor: Kim Taylor

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Keywords:   Goertek,AirPods