Apple component supplier AMS doubles 2017 revenue, raises outlook

Jan 29 (Reuters) – Austria-based electronic chip maker AMS AG said on Monday its revenue for 2017 nearly doubled to a record 1.06 billion euros ($1.32 billion) and sharply increased its outlook, driven by strong demand for its sensors from smartphone customers such as Apple.

The Swiss-listed company, which supplies optical sensors that help adjust the brightness and colours on phone screens, raised its compound annual revenue growth rate expectations for 2016-2019 to 60 percent from 40 percent.

AMS cited the steep increase in outlook to a range of revenue pipeline opportunities in smartphone and consumer applications. ($1 = 0.8057 euros) (Reporting by Thyagaraju Adinarayan in Gdynia; Editing by Gopakumar Warrier)

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