ARM Plunges After Samsung Picks Intel Chip for Tablet
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ARM Holdings Plc, whose technology is at the heart of the chips that run most of the world’s smartphones, plunged after Samsung Electronics Co. said it will use an Intel Corp. chip in one of its tablet models.
Samsung’s choice overshadowed ARM’s unveiling of a new design today to boost the performance of mid-range smartphones. Cambridge, U.K.-based ARM, whose chip technology is used by Apple Inc., fell 7 percent in London, the biggest drop since August 2011, after customer Samsung said it will use an Intel chip in its latest 10-inch tablet.