Apple news hits Dialog

Dialog Semiconductor has said its top customer Apple could build its own power-management chips into future iPhones rather than rely on the Anglo-German chipmaker, sending its shares plunging up to 19%.

The company, which analysts reckon derives more than half of its revenue from Apple, said there was no risk to its existing supply deals in 2018 and it was in the advanced stages of working with Apple on designing “2019-type products” that could lead to commercial contracts by next March.