OAKLAND, Calif./HONG KONG : Chip technology firm Arm China suffered a 90 per cent drop in profit last year despite revenue rising more than 30 per cent during the first year management appointed by SoftBank Group Corp took over, according to a financial document reviewed by Reuters.The company, set up in
OAKLAND, Calif./HONG KONG : Chip technology firm Arm China suffered a 90 per cent drop in profit last year despite revenue rising more than 30 per cent during the first year management appointed by SoftBank Group Corp took over, according to a financial document reviewed by Reuters.
SoftBank had said early last year it was aiming to take Arm Ltd public by the end of March; last week Arm's CEO told Reuters the firm was committed to a listing this year. “The Arm Ltd IP business part of Arm China is performing very well and we are positioned for continued growth going forward. The new management team has quickly restored confidence with our China ecosystem, and we are pleased to have the previous management issues well behind us as we expand Arm technology into the China market,” said Phil Hughes, Arm's vice president of external communications, in a prepared statement.Arm China's net profit plunged to $3.2 million last year from $79.
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