Motherson Sumi Systems Ltd. is one of the largest suppliers of touch panels in the world.
Motherson Sumi Systems Ltd. (NSE:MOTHERSUMI) is a $2 billion Indian company that supplies electronic components to some of the biggest tech companies in the world, including Apple Inc. (NASDAQ:AAPL). The company makes touch panels for smartphones and tablets, and it’s also a major supplier to automobile manufacturers such as Ford Motor Company (NYSE:F), BMW AG (ETR:BMW), Toyota Motor Corporation (NYSE:TM), and Volkswagen AG (ETR:VOW).
The company’s shares have been on a downward spiral since early October, when it reported third-quarter earnings that missed analysts’ expectations. The stock has dropped more than 35% since then, with most of that decline coming in just the last few days.
Why are Motherson Sumi shares going down today?
Toshiba Corp., which owns 24% of Motherson Sumi, announced this morning that it plans to sell its stake in the company by December 2020.
