Largan shares under pressure after cautious September sales forecast

Focus Taiwan
Date: 2018/09/21
By: Han Ting-ting and Frances Huang 

Taipei, Sept. 21 (CNA) Shares of Largan Precision Co., a Taiwanese supplier of smartphone camera lenses to Apple Inc., encountered heavy selling Friday after the company gave a cautious outlook for its September sales, dealers said.

The selling also reflected worry that Apple will not use triple camera lenses in its next generation iPhones in 2019, which would affect Largan’s shipments, they said.

As of 11:24 a.m. Friday, shares of Largan had fallen 4.21 percent to NT$3,640.00 (US$118), off an early low of NT$3,425.00, with 1.72 million shares changing hands on the Taiwan Stock Exchange.

On the broader market, the weighted index was up 0.88 percent at 10.926.89 points.

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