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Apple supplier IQE flags lower revenue on tepid demand from smartphone markets

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– British technology firm IQE Plc forecast lower annual profit margin and revenue on Wednesday as demand from the smartphone market softened amid tepid 5G technology rollout.

IQE, which makes semiconductor wafers for chips used in Apple products, said it expected an 8% fall in 2021 revenue on a constant currency basis and a 2 percentage point decline in core profit margin at about 15%.

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