Intel's Q4 earnings affected by weak modem demand due to sluggish iPhone sales
Sluggish iPhone sales have affected revenues of several Apple's key suppliers including Intel.
Intel's 5G modem, the XMM 8160.
Slow iPhone sales have affected another Apple supplier - Intel.
Intel announced its Q4 2018 earnings a few days ago which missed analysts' expectations. While Intel's revenue is up 9% year-over-year at US$18.66 billion, Wall Street analysts were expecting US$19.01 billion. Intel attributed the lower-than-expected revenue to "weaker modem demand, a slowdown in China, cloud customers absorbing capacity, and a weakening NAND environment".
Since Intel is the exclusiver supplier of radio modems for the 2018 iPhone lineup, sluggish sales of the iPhones in the holiday quarter will definitely affect its revenue.
Intel is not alone in this situation; camera lens supplier Largan Precision also reported a significant drop in revenue last month. Foxconn reported its revenue drop in 10 months due to a drop in demand in the consumer category products.
Our articles may contain affiliate links. If you buy through these links, we may earn a small commission.