January 11, 2016 / 7:14 AM / 2 years ago

Dialog expects 2016 sales growth to slow on soft smartphone market

FRANKFURT (Reuters) - Dialog Semiconductor Plc said on Monday it expected slower sales growth as the softening of the smartphone market will continue through the first half of this year.

The company which relies heavily on chip deliveries to Apple Inc and Samsung Electronics Co Ltd said it expects 2016 revenue growth to slow to a single digit amount from last year’s $1.355 billion, which was a 17 percent rise from the previous year.

Shares in Dialog were indicated to open 2.6 percent lower in pre-market trade at broker Lang & Schwarz, with the German blue chips index seen opening down 1.3 percent.

Reporting by Harro ten Wolde; Editing by Anand Basu

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