SoftBank Group Corp s Arm Holdings Ltd reported a 1% fall in annual revenue due to a slowdown in smartphone sales, after the chip designer disclosed the paperwork for an initial public offering (IPO) that is expected to be the largest of the year.
Arm IPO: Arm said that more than 50% of its royalty revenue for the most recent fiscal year came from smartphones and consumer electronics. The global smartphone market is on track to hit a decade low this year, according to Counterpoint Research. Arm s modest decline in revenue, despite heavy reliance on smartphones for royalties, suggests that its per-chip rates have increased.