ref="http://www.cityam.com/company/samsung">SAMSUNG yesterday confirmed it has sold its stake in UK chipmaker CSR, causing the London-listed firm’s share price to tumble nearly three per cent during trading.
The sale comes after CSR’s announcement in December that it would discontinue its camera-on-a-chip technology used in point and shoot digital cameras, a move welcomed by investors.
Samsung’s stake amounted to 9,925,000 shares in CSR, worth around £65.5m when Samsung sold its stake at 660p a share to a number of different investment funds on Tuesday.
CSR makes microchips used in the automotive, wearables and bluetooth audio devices such as Nike’s Fuel Band.
Despite yesterdays fall to 680p, CSR’s share price has risen 35 per cent since its announcement in December that it would discontinue investment in camera-on-a-chip technology.