Apple cuts smartphone power chip orders from Dialog Semiconductor

Dialog Semiconductor said Apple now planned to source the main power management chips (PMICs) for one of its three new iPhone models from two suppliers instead of just from the German chipmaker.Dialog's stock has lost more than half of its value over the past year on investor concerns that Apple is working on its own battery-saving chips for iPhones.Analysts reckon Dialog derives more than half its revenue from supplying Apple with PMICs.