(Yicai) March 27 -- Goertek, a leading Chinese supplier of smart acoustics equipment, saw its net profit more than double last year.

Net profit expanded 145 percent to CNY2.7 billion (USD360 million) last year from the previous year, the Weifang-based company announced yesterday. Revenue inched up 2.4 percent to CNY100.9 billion (USD13.9 billion).

The precision component market rebounded last year, thanks to a 6.1 percent increase in global smartphone shipments to 1.24 billion units, Goertek noted, adding that there was a noticeable upward trend of technological upgrades for acoustic sensor products related to artificial intelligence voice interaction.

Goertek’s precision components and smart acoustic systems businesses grew smoothly last year, up 16 percent and 9 percent to CNY15 billion (USD2.1 billion) and CNY26.3 billion, respectively, from the year before.

Meanwhile, revenue from its smart hardware business, which includes VR, MR, and smart wearable product lines, fell 3 percent to CNY57.1 billion.

Goertek has been an Apple supplier since 2010 and is now the US tech giant’s most comprehensive supplier of acoustic products. Over the past 15 years, the business has expanded from just microphones to speakers, receivers, precision structural components, optical components, and the assembly of complete products, such as AirPods and HomePods.

Goertek’s shares [SHE: 002241] closed down 0.9 percent at CNY26.72 (USD3.68) in Shenzhen today.

Editor: Futura Costaglione