Apple iPhone chip supplier Dialog reports early revenue results at low end

Stephen Lam | Reuters

A man holds the Apple iPhone XS and XS Max during a product demonstration following the Apple launch event at the Steve Jobs Theater in Cupertino, California, September 12, 2018.

Apple supplier Dialog Semiconductor reported early revenue results Monday that came in at the low end of the expected range.

The chipmaker reported unaudited revenue of $431 million for the fourth quarter of 2018, barely scraping into the company’s projected range of $430 million to $470 million.

The shortfall stands as another indication of Apple’s smartphone slowdown. Several Apple suppliers cut quarterly revenue guidance in November, citing reduced orders from a major client, presumed to be Apple. Earlier this month, Apple lowered its own revenue forecast citing weaker-than-expected sales.

Apple uses Dialog chips to extend battery life in nearly all of its iPhone models. The companies entered into a $600 million deal in October that granted Apple greater control over the technology.

Shares of Apple were trading roughly 1 percent lower ahead of the market open Monday, as the overall market fell.

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