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Byd Bids for Bigger EMS Share |
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Written by Mike Buetow
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Tuesday, 24 June 2008 |
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HONG KONG – Byd Electronic Co., a provider of mobile handset components and electronics assembly services, reported 2007 revenues of 5.8 billion RMB ($823 million), up 89% year-over-year.
The bulk of the company’s revenue came from sales of handset components and modules, which made up 3.9 billion RMB ($552 million) in 2007. The company reported EMS sales of $271 million, up from $7.7 million last year.
For the year, gross profits were 26%, down five points as the company ramped its lower-margin assembly services. Inventory turnover increased from 54 days in 2006 to 66 days in 2007.
About half the company’s sales were in China, with 18% in Europe and 17% in the US.
The company is listed on the Hong Kong exchange but manufactures in Chennai, India; Shenzhen and Tianjin, China, under various subsidiaries.
Byd is involved in a lawsuit with Foxconn, which alleges the former hired Foxconn employees who stole confidential information.
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