May 31, 2018 / 4:11 PM / a year ago

Dialog says Apple to source fewer main smartphone power chips from it

FRANKFURT, May 31 (Reuters) - Dialog Semiconductor said Apple now planned to source fewer of the main power management chips (PMICs) it needs for its smartphones this year from the German chipmaker than it had previously planned.

The move will reduce Dialog’s full-year 2018 revenues by around 5 percent, Dialog said, but added that revenues would still grow year-on-year.

Dialog’s stock has lost more than half of its value over the past year on investor concerns that Apple is working on its own battery-saving chips for iPhones.

Analysts reckon Dialog derives more than half its revenue from supplying Apple with PMICs.

Reporting by Maria Sheahan; Editing by Adrian Croft

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