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Chip designer ARM's shares rise on iPhone launches
September 11, 2013 / 7:32 AM / 4 years ago

Chip designer ARM's shares rise on iPhone launches

LONDON (Reuters) - Shares in British chip designer ARM Holdings jumped as much as 6 percent in early deals on Wednesday after its partner Apple unveiled two new iPhones late on Tuesday.

Apple’s iPhone 5s smartphone uses its own 64-bit processor, the A7, reportedly based on an ARM design. ARM licences its processor blueprints to chipmakers and receives royalties on every chip shipped.

Shares in ARM were trading up 4.6 percent at 984 pence at 8:15 a.m., topping the FTSE 100 index.

Reporting by Paul Sandle

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