Jun 1, 2018

Dialog tumbles after Apple confirms chip development plans

Shares in Dialog Semiconductor collapsed on Friday morning after the chipmaker warned that Apple had confirmed plans to develop its own power management chips for iPhones. Apple accounts for more than three-quarters of Dialog's revenues but in a statement after markets closed on Thursday, the Anglo-German company said the phone maker had decided to order 30 per cent fewer of the chips. Imagination Technologies, another UK-based chip designer, saw its market value collapse last year after Apple decided to end their relationship and was sold to China's Canyon Bridge. "Dialog understands its continued role as Apple's main supplier is contingent on Dialog meeting Apple's technology, quality, price and volume expectations, as well as continuing to develop advanced technology to meet Apple's requirements," the statement said. Mr Bagherli said Dialog would outline its plans to attract new customers and build new chips when it announces financial results.

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