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Apple buys wireless charging firm PowerbyProxi; Samsung profits on the transaction?

26 October 2017

And in other Apple news, Reuters reported that the firm has bought a New Zealand wireless charging company called PowerbyProxi. No one knows how much the former paid for the latter, but it's rumored to be in the high tens of millions.

PowerbyProxi, founded by Fady Mishriki and Greg Cross in 2007, is a spin-off of a University of Auckland project that has gained global recognition for the development of wireless charging systems, based on the Wireless Power Consortium's future Qi wireless standard. In a nutshell, it's a mixture of a decade expertise in wireless charging expertise that goes behind cellular phones that Apple company has bagged.

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Market researchers and analysts criticized Apple AAPL over the last couple of years for failing to keep pace with competitors like Samsung and others that had invested in wireless charging in their smartphones, tablets, and other devices.

The tech giant released the news on Wednesday, with senior vice president of hardware engineer Dan Riccio saying the "team will be a great addition as Apple works to create a wireless future". Neither company has revealed the value of the deal. "We want to bring truly effortless charging to more places and more customers around the world". Mr. Mishiriki furthersaid "The team and I are thrilled to join Apple".

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The Kiwi Company is known to produce wireless charging modules of a 100- Watt power transfer.

Why it matters: Apple added wireless charging capabilities to the iPhone 8 and iPhone X and announced plans for a future wireless charging station. The startup has been working on the development of the Qi wireless charging standard and has already received funding for its wireless works.

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