Joined Nov 11, 2007
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$FLEX Guides Higher on Automotive Outlook

Flextronics International Ltd. (FLEX), a supplier of cameras and battery charges to Apple Inc. (AAPL), is seeking Chinese, Japanese and Korean car makers as customers to boost growth in its automotive business.

The Singapore-based company aims to double its revenue from the High Reliability Solutions group, which includes automotive, medical, aerospace and defense, every three to five years, Paul Humphries, president of the division, said in an interview in Shanghai today. Sales for each business are expected to increase between 10 percent and 20 percent annually, he said.

Flextronics, which also makes lighting and entertainment systems for automakers, is increasing focus on Asian car makers after its revenue declined for five straight quarters. Total vehicle sales in China this year are forecast by the country’s industry group to surpass 20 million units for the first time….”

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