Marvell kills off its mobile business
 

Chipmaker Marvell plans to cut its mobile business and will lay off nearly one in five of its staff.

The company’s mobile and wireless business makes connectivity chips, and processors for smartphones and tablets.

Marvell said it would now focus on emerging opportunities in businesses such as automotive and Internet of Things, the concept of connecting household devices to the Internet.

The company said on September 11 a slowdown in the personal computer market had led to a weaker-than-expected demand for its hard-disk drive products.

Marvell had a total of 7,163 employees at the end of January.

The chipmaker said on Thursday that it expects to take a charge of $100 million to $130 million related to the restructuring.

The restructuring is currently expected to result in annualised operating savings of $170 million to $220 million, the company said.

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