Facing supply glut for chips, Apple-supplier IQE targets Asian and AI markets

By Anchal Rana (Reuters) -British chip components maker IQE said on Tuesday it was focussed on penetrating Asian markets and growth opportunities from the artificial intelligence (AI) space as it forecast a slower-than-anticipated recovery in the chip industry this year. Shares in IQE, which makes “epi-wafers”, a type of advanced material used in products from laser hair removal to facial recognition sensors in iPhones, fell 4% after it also swung to a half-yearly loss hurt by lower sales and a supply glut. “Some wireless markets are now bouncing back, and we have secured new design wins with …

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