Hot stock: Creative Technology up 20% following partnership with Skyworth
Navene Elangovan
SHARES of Creative Technology closed 19.7 per cent higher on Friday (Sep 22), a day after the group announced a strategic partnership with Chinese electronics company Skyworth.
The counter rose as much as 21.4 per cent to hit S$1.42 in early trade.
It then eased to close at S$1.40, up S$0.23 or 20 per cent, on Friday after 448,350 securities changed hands. This is significantly higher than its average trading volume of 13,756.
No married deals were recorded, ShareInvestor data indicated.
With the tie-up, Creative’s Super X-Fi (SXFI) Spatial Holographic Audio technology can be used with SXFI-compatible televisions by Skyworth, as well as in its future models.
The company said that the partnership “opens avenues for future collaboration between Creative and other industry partners” to bring the SXFI technology to a wider array of consumer electronics and personal computer platforms.
“Creative is delighted to partner with Skyworth to introduce SXFI Spatial Holographic Audio to both the Chinese and global markets through their latest televisions. With the seamless integration of SXFI Audio’s generational improvements, customers get to enjoy SXFI easily on all content,” said Lee Teck Chee, vice-president of technology at Creative.
Copyright SPH Media. All rights reserved.
