Major Smartphone Battery Supplier TDK Plans To Double Sales
TDK supplies batteries for more than a third of the world’s smartphones, including the iPhone.
But the company has revealed an ambitious plan to move past phones and PCs in order to double sales of its lithium-ion batteries within five years.
President Shigenao Ishiguro has told Bloomberg of TDK’s expansion into larger batteries used in cell base stations, residential security systems, and electric scooters.
The TDK-owned Amperex Technology Limited battery business entered into a joint venture with Chinese giant Contemporary Amperex Technology (itself spun off from ATL) in April. This arm of the company will be tasked with delivering these mid-sized battery packs.
“We will be a challenger in the mid-sized battery market and I’m sure we can become a major player quickly in this segment,” Ishiguro said.
“Revenue from these new use cases should become as large as what we earn from small gadgets today in five to six years.”