President of Apple and Samsung supplier to become China's richest woman

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Lens Technology is a major supplier of parts for Apple's iPhone. Photo: Reuters

Published: 1:15pm, 16 Mar 2015Updated: 1:04pm, 11 Oct 2016

An upcoming IPO in Shenzhen may make Zhou Qunfei, president of Lens Technology Co, the richest woman in China.

Lens Technology is a major supplier to global device manufacturers from Apple and Samsung to LG and domestic firms. Its main product, touch-screen glass covers, are used in 20.27 per cent of the world's smartphones, and 23.37 per cent of tablets.

The leading glass-cover maker has counted Apple as its largest client for the three years, providing screens for iPads and iPhones, which became the most popular phone in China in the last quarter of 2014. Apple amounted for more than 47 per cent of Lens Technology's entire revenue last year, at 6.88 billion yuan.

Performance of Lens Technology last year surpassed many of the 400 companies listed on the Shenzhen-based Second Board, with an annual revenue of around 14.5 billion yuan and a profit rate of 11.7 per cent.

However, analysts warn that the company faces potentially great risks in that it is highly reliant on major clients including Apple, Samsung, LG and Foxconn. If those clients reduce demands, it will suffer accordingly.

Still, the newly released Apple Watch brings new opportunities for Lens Technology. For years it devleoped key technologies behind the sapphire glass display used in the device.

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