Boston, MA 06/12/2014 (wallstreetpr) – The CEO of Synaptics, Incorporated (NASDAQ:SYNA), Rick Bergman on June 11, 2014 announced that the company was thrilled to win Apple Inc. (NASDAQ:AAPL) as the customer. Synaptics is the touchscreen chipmaker and is renowned in the industry. The last time that Synaptics supplied the parts to Apple was approximately 8 years ago. Apple became a customer of Synaptics after the latter agreed to pay $475 million for the rest of the shares in Renesas SP Drivers Inc, which is the part of Japanese chipmaker Renesas Electronics Corp.
Synaptics muscling the way back to Apple
Synaptics, Incorporated (NASDAQ:SYNA) claims to have the 70% market share of touchpad. It has however been struggling its way back to Apple supply chain after being dropped as the supplier when Apple decided to move this touch technology internally. Apple, at present demands that the panel suppliers should make use of the display driver chips from Renesas SP exclusively because using these from a lot of suppliers would create variations in the display.
Explanation from the CEO of Synaptics
The CEO of Synaptics, Incorporated (NASDAQ:SYNA), Rick Bergman explained that the company would be absolutely delighted to have Apple as its customer because this would also strengthen the relationship between the two. He additionally said that the better opportunities of his company were completely complementary technologies to what Apple has been doing internally. He said that the company believes that at this point of time, Apple perhaps does not have any driver chips internally, which means that it would be a good opportunity for his own company.
Synaptics’s acquisition of Renesas SP
Synaptics, Incorporated (NASDAQ:SYNA)’s acquisition of Renesas SP will prove to be beneficial because it now aims to integrate the touch technology with the display drivers of Renesas SP. This means that Synaptics will be able to enjoy improved performance along with lower costs. Feltl & Co analyst Jeffrey Schreiner, in this context explained that at present, there is no other company that can enable touch display driver integration and there is also no competitor in the market.
