Enovix And Leading Smartphone OEM With Top 5 Market Share In China, Execute Development Agreement For Mass Production In 2025
Portfolio Pulse from Benzinga Newsdesk
Enovix Corporation (NASDAQ:ENVX) has signed a development agreement with a leading smartphone OEM in China to produce a 100% active silicon anode battery for smartphones by Q4 2025. This marks Enovix's second agreement with a top smartphone OEM, indicating growing momentum in the IoT and EV markets.
October 29, 2024 | 8:09 pm
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Enovix has entered a development agreement with a top Chinese smartphone OEM to produce silicon anode batteries by 2025, marking its second major OEM partnership.
The agreement with a leading smartphone OEM in China is significant for Enovix as it strengthens its position in the battery market and indicates potential revenue growth. The partnership with a top OEM suggests confidence in Enovix's technology, likely boosting investor sentiment and stock price in the short term.
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