Dialog Semiconductor sees good sales growth in 2017

FRANKFURT (Reuters) – Dialog Semiconductor (DLGS.DE), maker of chips that go in Apple Inc’s (AAPL.O) and Samsung Electronics’ <005930.KS> smartphones, said it expected “good revenue growth” in 2017, indicating a bumper year for high end consumer devices.

The company, which depends for about three-quarters of its revenues on smartphone makers, in January already reported a 5 percent rise in fourth-quarter sales to $365 million.

Dialog on Thursday said it expected sales of $255-$285 million in the first quarter of 2017, up from the $241 million it made in the year-earlier quarter.

Hopes for strong chip deliveries to Apple’s iPhone and Samsung’s Galaxy have lifted the stock to a 17-month high, gaining 19 percent so far this year and more than doubling from the 23.21 euros it hit in June.

https://youtu.be/O9ks-j0R6PA

Apple and Samsung are launching their new smartphones in the coming weeks. Expectations are high, especially for the 10-year edition of the iPhone, which according to analysts contains Dialog’s power management chip.

(Reporting by Christoph Steitz and Harro ten Wolde; Editing by Maria Sheahan)

Source: http://finance.yahoo.com/

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