Apple to give Finisar $390 million to increase TrueDepth camera tech production

Tim Cook CEO of Apple demonstrates an iPhone following a launch event in Cupertino California

The iPhone X uses these advanced lasers to power the TrueDepth camera for Aminimoji, Face ID and bokeh-rich Portrait mode selfies.

That's a move straight out of Tim Cook's playbook - see prior examples like cornering the market for flash memory, which helped the iPod and iPhone dominate over the past 15 years, and also helped Apple hit its insane profit margins. In the fourth quarter of 2017, Apple will purchase 10 times more VCSEL wafers than were previously manufactured worldwide over a similar time period.

Shares of Finisar leaped nearly 30% at the opening bell Wednesday.

Apple is naming another recipient of funds from the company's $1 billion US Advanced Manufacturing Fund that the company announced earlier this year.

This money will allow Finisar to increase R&D and high-volume production of vertical-cavity surface-emitting lasers already in the iPhone X and AirPods.

President Donald Trump is among the public figures pushing for Apple to move at least some of its manufacturing business to the United States.

"We're excited to continue our innovation with Apple of a technology that has tremendous potential", said Jerry S. Rawls, CEO of Finisar.

Lumentum is the top supplier of VCSELs and represents a "single source risk" for Apple, he added.




The windfall will pay for a new 700,000-square-foot manufacturing plant in Sherman, North Texas (via TechCrunch).

The design process at Apple balances creating ground-breaking technology against the manufacturing challenge of finding suppliers who can provide the number of components needed to put new features inside hundreds of millions of handsets.

When combined with the company's nearby plant in Allen, Texas, Finisar's payroll in Northern Texas is expected to be $65 million.

Apple released tools for app makers to start creating AR apps over the summer and enabled it on all iPhones back to the iPhone 6s.

The first investment was a $200 million infusion into Gorilla Glass maker Corning Inc in May. The iPhone X is now the only Apple product with a facial recognition sensor.

"If we can create many manufacturing jobs, those manufacturing jobs create more jobs around them because you have a service industry that builds up around them", Cook said of the fund on CNBC earlier this year.

It will only unlock your device when you look in the direction of the iPhone X with your eyes open.

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