October 31, 2018 / 7:29 AM / 10 months ago

Murata raises profit outlook on solid smartphone parts demand

OSAKA, Oct 31 (Reuters) - Japanese electronics component firm Murata Manufacturing Co Ltd raised its full-year profit outlook citing solid sales of components for new smartphone models, despite some market concerns of an industry slowdown.

Murata said it sees operating income for the full year through March rising 68 percent from the previous year to 275 billion yen ($2.43 billion), compared with a previous forecast of 240 billion yen. That also beat the market consensus of 269 billion yen, based on 22 analysts’ forecasts according to Refinitiv data.

The supplier to Apple Inc and other smartphone makers is the world’s biggest provider of multi-layer ceramic capacitors (MLCCs) — tiny parts that control the flow of electricity in a variety of products such as smartphones.

Its Chief Executive Tsuneo Murata told Reuters earlier this month that it expects shortages of MLCCs to last another two years as they are used in a greater variety of products such as cars and laptops. ($1 = 113.2000 yen) (Reporting by Yoshiyuki Osada; Writing by Ritsuko Ando; Editing by Rashmi Aich)

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