Far East receives first volume shipment from Cyan
Cyan Technology, the AIM-listed Cambridge semiconductor, has announced the successful delivery of the company’s first volume shipment to China.
17,500 microcontrollers have gone to a Chinese customer as part of a wider order for 100,000 units, the rest of which must be delivered by the end of June 2006. They will be used to manufacture government tax control POS (Point of Sale) terminals, a market which is estimated to require in excess of 30 million units in China.
The announcement provided a 3.61 per cent rise in Cyan’s share price – up 0.75p to 21.5p a share – and a welcome boost to shareholders after disappointing end of year results.
Paul Johnson, CEO of Cyan, said: “This first shipment to China offers validation for our quality microcontrollers and further endorses our decision to expand throughout Asia from our Hong Kong base.”