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Smartphone demand pushes ARM's profits up 45%
Demand for smartphones, tablets and smart TVs boosted chipmaker ARM's profits by 45% to GBP69m (USD109m) in the last quarter, up from GBP47.6m (USD75m) in 2010. The Cambridge-based firm says that it expects its performance to continue outstripping the wider industry over the next year as its chips are used in more devices. Revenues climbed 21% from GBP113.9m (USD179.6m) to GBP137.8m (USD217m), beating analyst expectations and pushing its shares up 2%. Smartphones, particularly Apple's iPhone, are still driving the firm's profits, with ARM earning between five and 10 times the amount in royalties it would earn for a feature phone.
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