Dialog semiconductor logo is pictured at a company building in Germering near Munich, Germany August 15, 2016. REUTERS/Michaela Rehle
FRANKFURT (Reuters) – Dialog Semiconductor said revenues would decline this year as it completes the $600 million transfer of programmers and patents to iPhone maker Apple, as it announced a 2 percent rise in fourth-quarter operating profits.
The Anglo-German chip designer struck a deal in October to reduce its exposure to Apple, which accounts for three-quarters of revenues, and said at the time it expected revenues for 2019 as a whole to be flat.
It now expects a single digit percentage revenue decline. Dialog earlier reported fourth-quarter revenues just above the lower end of its guidance.
Reporting by Douglas Busvine, editing by Riham Alkousaa