IPhone suppliers sees profitsprof drop

A BRITISH supplier of iPhone components ponents saw its p profits more than halve as US tech tec giant Apple dialled back its sa sales predictions.

IQE said sales had ha nudged up just 1pc to £156.3m as profits fell from £15.1m to £6.7m in 2018.

However However, it sa said growth was expected to pick up in the second half of this year due to its push into components that would be used for new 5G mobile services.

Slowing demand for smartphones worldwide has also hit sales of its components. After its announcement, IQE shares plunged 11.3pc, or 9.45p, to 73.95p.