January 14, 2018 / 11:45 AM / a year ago

Q Tech says expects 2017 profit to more than double

HONG KONG, Jan 14 (Reuters) - Chinese smartphone component supplier Q Technology said it expects full-year profit to more than double on higher revenue, but warned of intense market competition, in a stock market filing on Sunday.

Q Technology, a camera module and fingerprint recognition module maker for Chinese smartphone companies such as Huawei Technologies, OPPO and Vivo, said sales revenue of its camera modules rose on higher average selling prices and improved margins, even though sales volumes slipped.

Average selling prices of its fingerprint modules fell significantly, it said, although volumes rose, leading to a rise in revenue for the business.

The company said market competition remains intense and said it will seek to improve production capacity, automation rate and introduce new technology. (Reporting by Sijia Jiang, editing by Louise Heavens)

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