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>> Global tech stocks may be tumbling, but one European name soared Thursday. Chipmaker Dialog up as much as 34%. Call it the Apple effect. The Anglo-German firm selling a big chunk of itself to the US giant for $600 million. Reuters' technology correspondent Doug Busvine says some will see a cautionary tale.
>> Dialog is one of a number of suppliers that has become heavily dependent on Apple simply because the iPhone maker has become so big. Dialog itself expects Apple to account for 75% of total sales this year. With this deal it gets a chunk of change and hopes to be smaller but more diversified.
In three years time, Apple will account for around 35 to 40% of its business. Others have failed to make that transition. Imagination, a UK company, lost some Apple business last year. It ended up collapsing and being sold to a Chinese investor.>> It's Apple's biggest such acquisition in Europe.
It gets patents, engineers, and expertise in power management chips. That's the technology that governs your phone's battery life. As for Dialog, it gets to build a business with more than one big customer.