`Case 5:19-cv-00036—RWS Document 66-46 Filed 08/27/19 Page 1 of 4 PageID #: 3549
`PUBLIC VERSION
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`EXHIBIT 45
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`EXHIBIT 45
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`Case 5:19-cv-00036-RWS Document 66-46 Filed 08/27/19 Page 2 of 4 PageID #: 3550
`8/23/2019
`IPhone's Wi-Fi Module Maker Sees Earnings Improvement in 2019 - Bloomberg
`
`Technology
`
`iPhone's Wi-Fi Module Maker Sees Earnings
`Improvement in 2019
`
`By Yu-Huay Sun and Cindy Wang
`September 6, 2018, 5:00 PM EDT
`
`Surging costs of capacitors and resistors hurt earnings in 1H
`Sales improve as demand for customers products increase
`
`Universal Scientific Industrial (Shanghai) Co., which makes Wi-Fi modules for products such as
`Apple Inc.’s iPhone, expects earnings to improve in 2019 as the squeeze from surging component
`costs and lackluster shipments eases.
`
`Sales have started to improve ahead of the anticipated introduction of new products by clients,
`USI president CY Wei said in an interview in his Taipei office on Sept. 3, without giving detailed
`forecasts. USI, a unit of Taiwan’s ASE Group, saw first-half net income fall 30 percent to 392
`million yuan from 556 million yuan year earlier, according to the company’s website.
`
`https://www.bloomberg.com/news/articles/2018-09-06/iphone-s-wi-fi-module-maker-sees-earnings-improvement-in-2019
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`Case 5:19-cv-00036-RWS Document 66-46 Filed 08/27/19 Page 3 of 4 PageID #: 3551
`8/23/2019
`IPhone's Wi-Fi Module Maker Sees Earnings Improvement in 2019 - Bloomberg
`
`Apple is expected to unveil three new smartphones in the coming weeks.
`
`USI, which also counts Lenovo Group and Intel Corp. among its customers, makes parts
`including Wi-Fi modules and motherboards that go into a variety of consumer and industrial
`products, including smartphones, laptop computers and automobiles. The soaring costs of
`capacitors and resistors, which have hurt the company’s earnings, will probably slow as
`suppliers increase production, Wei said. That should help earnings rebound as demand for
`clients’ products shows signs of improving, he said.
`
`“We expect our profitability to recover in the third and fourth quarters, and to return to our
`normal level in 2019.”
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`https://www.bloomberg.com/news/articles/2018-09-06/iphone-s-wi-fi-module-maker-sees-earnings-improvement-in-2019
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`Case 5:19-cv-00036-RWS Document 66-46 Filed 08/27/19 Page 4 of 4 PageID #: 3552
`8/23/2019
`IPhone's Wi-Fi Module Maker Sees Earnings Improvement in 2019 - Bloomberg
`
`USI’s net income will rise 30 percent to 1.74 billion yuan next year from 1.34 billion yuan in 2018,
`according to the average of seven analyst estimates tracked by Bloomberg.
`
`Diversification in products -- and the locations they’re made in -- is helping the company achieve
`“healthy growth,” Wei said. USI now has manufacturing sites in Taiwan, China and Mexico and is
`expanding to Poland via an acquisition
` and to South America through a joint venture with
`Qualcomm Inc.
`, he said.
`
`The investment in Chung Hong Electronics Poland SP.Z.O.O. will give USI a foothold in Europe
`and the planned venture with Qualcomm, slated to start building its plant in 2020, will serve the
`Brazilian market, Wei said. The company is also looking for investment opportunities in
`Southeast Asia, he said, without giving details.
`
`In this article
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`https://www.bloomberg.com/news/articles/2018-09-06/iphone-s-wi-fi-module-maker-sees-earnings-improvement-in-2019
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