Apple supplier Lumentum's forecast hit by weak smartphone market - Southern Business Review

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Tuesday, February 5, 2019

Apple supplier Lumentum's forecast hit by weak smartphone market

(Reuters) - Lumentum Holdings Inc, which supplies sensors for Apple’s FaceId feature, forecast third-quarter revenue below analysts’ estimates hurt by slowing demand for smartphones in China.


The company said it expects third-quarter revenue to be in the range of $420 million to $440 million.


Analysts, on average, were expecting the company to make $440.9 million revenue, according to IBES data from Refinitiv.




Reporting by Sonam Rai in Bengaluru; Editing by James Emmanuel