Dialog Semiconductor Expects To Remain Apple's Main Supplier Of PMIC Designs
Dec 05, 2017, 01:07
Chipmaker Dialog Semiconductor has seen its shares drop by as much as 19% after admitting that its contract to supply power management chips to Apple could be at risk.
CEO Jalal Bagherli said Apple probably had the capability to produce its own iPhone chip but said there was no indication that the firm was about to do so. Analysts reckon Dialog derives more than half its revenue from supplying Apple with power management integrated circuits (PMICs).
"Apple is obviously not helping Dialog to win this argument with investors". However, Dialog does not expect this to impact its business in 2018.
Dialog said in a statement that it continues to supply Apple, with no material change to their relationship.
The company said that it should have a better idea of future plans by March of next year.
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"We expect to remain Apple's main supplier", he added.
At the came time, the company says it understands that its continued role as Apple's main PMIC supplier is contingent on meeting Apple's technology, quality, price and volume expectations, as well as continuing to develop advanced technology to meet Apple's requirements.
However, it was acknowledged by the company for just the first time that Apple holds the capability and resources internally to design PMIC and could possibly do so within the next couple of years. Dialog previously has declined to use the name Apple, referring only to its biggest customer, said it received a dispensation from the iPhone maker to mention its name.
"The shares appear to have instantly priced that Apple will design out Dialog partly or almost completely", Morgan Stanley said in a note to investors.
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