Prior to joining Finisar, Michael Hurlston was senior vice president and general manager of Broadcom's mobile connectivity / wireless communications and connectivity group and previously held senior leadership positions in sales, marketing and general management at Broadcom Prior to joining Broadcom in 2001, Hurlston held senior marketing and engineering positions at Oren Semiconductor, Avasem, Integrated Circuit Systems, Micro Power Systems, Exar and IC Works. Hurlston is also a director of Ubiquiti Networks and a member of Advisory Board of Vilynx Inc. Hurlston owns the University of California, Davis Bachelor of Science in Electrical Engineering, MS in Electrical Engineering and MBA.
'After a thorough and thoughtful search, we are pleased to welcome Michael Hurlston to Finisar as CEO and board member. Michael has extensive experience as a very successful technology industry manager and we are confident that Michael will lead us to success And Industry Leader. "Stephanie Stephens, Chairman of Finisar's Board of Directors, said," On behalf of the Board, I want to thank Jerry for his tireless efforts and leadership over Finisar for nearly three decades. Under Jerry's leadership, Finisar from Menlo Park Was established to become the world's leading optical company with sales of nearly $ 1.4 billion in the recently completed fiscal year Jerry made numerous contributions to Finisar's growth and success so far and welcomed the company's tremendous growth Opportunity laid a firm foundation.
Hurlston said it is pleased to join Finisar in leading the great company Jerry and his colleagues have established. Finisar has the world's leading products and technologies, engineering talent and manufacturing capabilities, and enjoys an excellent reputation in the industry and customers. "Optical Communications and Optoelectronics Is rapidly growing and has many exciting new client opportunities and looks forward to getting his job done in Finisar as soon as possible.
Finisar began to attract attention with the introduction of 3D sensing technology in the iPhone X. The company is one of the world's only suppliers of vertical laser cavity surface-mount lasers (VCSELs) to provide parts for the iPhone X for 3D depth sensors, Finisar has risen in Apple's supply chain, and since 2016 Apple's AirPod has used Finisar parts to detect users inserting and removing earbuds.
Market research firm estimates that the VCSEL for smartphones will reach 240 million by 2019 after the release of iPhone X with VCSEL in 2017. Market output of mobile device 3D sensor modules will jump from 2017 to The $ 1.5 billion in 2017 is expected to reach $ 14 billion by 2020, with a compound annual growth rate of 209%. As a core part of the 3D sensor module, the VCSEL market is driven by the iPhone X and has gained industry-wide attention Market segment also ushered in a blow-up growth.Market research firm forecasts that in 2015 VCSEL market size of 956.6 million US dollars, to 2022 expected to grow to 3.1441 billion US dollars, 2016-2022 compound annual growth rate during the period Up to 17.3%.
To meet the market demand of iPhone X and add similar functions to more devices in the future, Apple needs Finisar to do more VCSEL because there are not many suppliers in this field.In the fourth quarter of FY 2017, Apple said it has purchased VCSEL chips 10 times more than the same period in the world.In order to ensure supply, Apple last month invested $ 390 million in Finisar to increase R & D investment and part production of Finisar, Will employ more than 500 highly skilled workers in a new 700,000-square-foot facility in Texas, where all Apple orders will be processed using 100% renewable energy and the new facility is expected to be commissioned in the second half of 2018 Operate.