Progress against strategy in Q4
* Growth in mobile applications
o ARM opportunity increases as smartphone growth continues and first ARM® technology-based mobile computers introduced
o 6 processor licenses signed for mobile phone and computing applications
o ARM achieves an average of 2.4 chips per phone as capability of mobile phones increases
* Growth beyond mobile
o ARM increases share in target markets such as consumer electronics and embedded products
o Strong sequential growth with microcontrollers up 60% and smartcards up 100%
o 19 processor licenses signed for a broad range of applications including automotive, microcontrollers, printers and smartcards
* Growth in new technology outsourcing
o Leading semiconductor companies continue to license ARM’s physical IP and multimedia IP including:
+ GLOBALFOUNDRIES licensed ARM’s advanced 28nm physical IP
+ Samsung licensed ARM’s Mali graphics processor for use in next generation consumer products
Warren East, Chief Executive Officer, said:
"We are pleased that in Q4 ARM has continued to outperform the semiconductor industry as we gain market share. Throughout 2009 we demonstrated the resilience of the ARM business model in a challenging trading environment. Despite industry dollar revenues being down about 20% in the relevant period, ARM market share gains resulted in dollar revenues being down 10% with on-going financial discipline maintaining normalised operating margins over 30% and delivering strong cash generation.
The company is well-placed for this strong performance to continue as leading semiconductor manufacturers are increasingly designing ARM technology into their products, and as ARM technology becomes ever more pervasive in markets with long-term structural growth such as smartphones, digital TVs and microcontrollers. Recently, Infineon and STMicroelectronics have announced the intention to use, for the first time, ARM processors in their smartcard and digital TV/set-top-box product lines respectively."
Outlook
It is generally anticipated that the semiconductor industry will see improving conditions in 2010 compared to 2009. The rate of improvement is still unclear as it will be influenced by consumer confidence and the broader macro-economic environment. Reflecting these generally anticipated improvements in the semiconductor industry, and given ARM’s strong industry position coming into 2010, we expect group dollar revenues for the full-year to be at least in line with current market expectations.
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