Multi-Fineline Electronix Inc. has made good on a promise to mix it up.
The Anaheim-based maker of flexible circuit boards that go into cell phones, personal digital assistants and other handheld devices had taken heat for a longtime reliance on Motorola Inc.
“We made a commitment in June 2004 that within three years Motorola would be less than half of our business,” Chief Executive Officer Phil Harding said. “We did it.”
Motorola once made up more than 85% of sales at Multi-Fineline, which is known as M-Flex. That was great when Motorola’s Razr was hot. But when the sleek phone lost its luster, Motorola slashed prices and forced its suppliers to do the same.
Now Motorola’s roughly a quarter of M-Flex’s sales, which are projected at $675 million for the 12 months through this September.
The company also said it’s looking to new uses for its flexible circuit boards, which are used to make electronics smaller, lighter and use less power.
M-Flex said it may look to auto, medical device and consumer electronics makers for sales.
For more on this story, see the Feb. 25 issue of the Business Journal.
