In a statement announcing its revenue range for Q3 of this year, FPC said it is “currently experiencing a cautious market”, and pointed to the announcement of Apple’s new iPhone as a complicating factor. While many had hoped the new device would introduce the world to an in-display fingerprint sensor, Apple has entirely replaced its pioneering Touch ID system with facial recognition on the new device, a move that has prompted FPC’s distributors and module houses to minimize their inventory levels as they try to augur how the market is shifting.
Despite this issue, FPC is expecting that its sensor shipments will rise about 40 percent compared to Q2 – yet despite that positive trend, its anticipated revenues will be between SEK 800 and 840 million, “which is in line with the previous quarter,” according to the company. That’s because more of its customers are opting for cheaper, rear-mounted fingerprint sensors, which has resulted in a 30 percent reduction in average selling price for FPC sensors.
In its statement, FPC emphasized that it does not provide forecasts but “chooses to disclose this information since the company considers that this level of revenues significantly differs from the expectations currently in the market”, and asserted that despite the market challenges, it “is still the market leader,” offering “world-leading products and innovation capabilities as well as a strong cash position.”
(Originally posted on FindBiometrics)