Apple supplier Dialog Semiconductor reported early revenue results Monday that came in at the low end of the expected range. The chipmaker reported unaudited revenue of $431 million for the fourth quarter of 2018, barely scraping into the company’s projected range of $430 million to $470 million.
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The shortfall stands as another indication of Apple’s smartphone slowdown. Several Apple suppliers cut quarterly revenue guidance in November, citing reduced orders from a major client, presumed to be Apple. Earlier this month, Apple lowered its own revenue forecast citing weaker-than-expected sales.
Apple uses Dialog chips to extend battery life in nearly all of its iPhone models. The companies entered into a $600 million deal in October that granted Apple greater control over the technology.
Shares of Apple were trading roughly 1 percent lower ahead of the market open Monday, as the overall market fell.
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