September 3, 2019 / 6:22 AM / 12 days ago

IQE posts first-half pretax loss, cites weak smartphone market

Sept 3 (Reuters) - IQE Plc reported a first-half loss on Tuesday, months after it flagged order delays at its wireless unit as U.S. restrictions on China’s Huawei hit the chip industry’s supply chain.

The Cardiff-based supplier of wafer products and services to the semiconductor industry - part of which supplies Huawei, reported a pretax loss of 3.7 million pounds ($4.54 million) for the six months ended June 30 after a pretax profit of 6.6 million pounds a year earlier.

IQE, which makes semiconductor wafers for chips used in Apple products among others, said revenue fell 9% to 66.7 million pounds, hurt by a weak smartphone handset market, lower demand, international trade tensions and fall in demand from a major laser customer.

$1 = 0.8145 pounds Reporting by Noor Zainab Hussain in Bengaluru

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