Chinese sapphire substrate manufacturer Biel Crystal, which has long kept a low profile, recently responded to market rumors about Lens Technology being a major smartphone screen supplier for Apple and Samsung, according to a Shenzhen Commercial report.

An unknown Chinese media report claimed Lens Technology was Apple and Samsung’s largest smartphone screen supplier with a 70 percent market share, while competing manufacturer Biel Crystal only had a 20 percent market share.

“This is far from the truth,” said a senior Biel Crystal officer. “In reality, Biel Crystal is Apple and Samsung’s largest smartphone screen supplier with a 60 percent market share.”

The same official told Shenzhen Commercial reporters the company’s market value is expected to surpass RMB 26 billion (US $4.24 million) in 2014.

Biel Crystal is one of the world’s largest mobile device screen supplier, and Apple’s largest smartphone screen OEM.

Since establishing its factory in Shenzhen in 1986, Biel Crystal has become one of the world’s largest mobile device screen suppliers. The company’s glass substrate products account for more than 60 percent of Apple and Samsung purchases, said the officer. In addition, Biel Crystal also supplies screens to Nokia and Lenovo. The company’s clients also include Xiaomi, Guangdong BBK Electronic Industrial, Coolpad Group, and Huawei.

The company signed a sapphire substrate joint investment agreement with Roshow Technology on April 1, 2014. Under the agreement Biel Roshow Sapphire was established. Sapphire substrate production under the agreement is expected to be moved forward to October 2014.

Since the founding of Biel Roshow Sapphire, Roshow Technology has invested RMB 200 million in the subsidiary. Biel Crystal has a 60 percent stake in the newly founded subsidiary, while Roshow Technology the remaining 40 percent.

Listed company Roshow Technology announced after subsidiary Biel Roshow completes registration, the company will purchase 200 crystal growth furnaces for 80 kilogram grade sapphires from Roshow’s subsidiary company in Zhejiang, China.

“The company has received all sapphire production equipment, and has entered the installation phase,” said Yan Dianjun, executive assistant to CEO at Roshow Technology. After installing the sapphire crystal growth furnaces, the first batch of sapphire crystals are expected to be manufactured within 20 days.

According to understanding, Biel Crytal headquarters is based in Hong Kong, and the company has a workforce of more than 100,000 employees. The company has factories located in Shenzhen and Huizhou in China. Factory expansions are taking place at the Huizhou production site, where a new 20,000 meter square factory for Apple orders is being built, and expected to enter production by the end of this year. The new factory is expected to generate an output value of RMB 3 billion within six months.