Arm shares rise to eight-year high as new chip is unveiled

 
City A.M. Reporter
BRITISH chip designer Arm Holdings unveiled a new processor that could help it extend its dominance in mobile phones into new markets, sending its shares to a new eight-year high yesterday.

Arm, led by chief executive Warren East, is making inroads into bigger rival Intel’s territory with design wins including Apple’s iPad tablet computer.

Texas Instruments, Samsung and Ericsson are the first licensees for the A15 processor, codenamed “Eagle” and part of Arm’s Cortex family.

Arm said it would deliver performance five times better than today’s advanced smartphone processors, and could be used in servers and wireless networking as well as phones.

Shares in Arm rose to an eight-year high, reaching 416p before closing at 403p.