Apple Awards $390 Million to Face ID Tech Company Finisar

Allan Goodman
December 15, 2017

The money will come from a $1 billion fund that Apple established earlier this year to boost US manufacturing jobs.

Apple also claims that the investment will create more than 500 jobs in northern Texas, where Finisar's manufacturing plants are located.

Apple's need for so many VCSEL wafers is a good sign the company either expects demand for AirPods and iPhone X to increase, has new products coming that'll take advantage of the technology, or maybe both. Apple said its award will help Finisar create more than 500 high-skill jobs at the plant, including positions for engineers, technicians and maintenance teams.

VCSELs power new iPhone features Arrays of vertical-cavity surface-emitting lasers (VCSELs) are critical to some of the features in Apple's latest iPhone X handset, providing the face-mapping hardware behind "Face ID" security, portrait-mode selfies, and the "Animoji" customized emoji option.

"VCSELs power some of the most sophisticated technology we've ever developed and we're thrilled to partner with Finisar over the next several years to push the boundaries of VCSEL technology and the applications they enable", Apple's Chief Operating Officer Jeff Williams said in a statement. The factory is expected to be up and running in the second half of 2018.

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Shares of Finisar were up almost 17 percent at $22.50 in premarket trading, while Apple shares were flat. "Consistent with Apple's commitment to the environment, the company intends to procure enough renewable energy to cover all of its Apple manufacturing in the United States".

President Trump has been pushing Apple to move its manufacturing efforts from China to the U.S. On the campaign trial, Trump said: "We're going to get Apple to build their damn computers and things in this country instead of in other countries".

“Sherman is the flawless place for Finisars significant investment in their operations and facilities and we couldnt be more grateful for their confidence.

"The amount referred to by Apple represents anticipated future business between the companies over a period of time", Finisar said in a filing. “The City of Sherman has invested significantly in improved infrastructure and amenities, and thats translated into an unparalleled quality of life.

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