Cypress forecasts lower margins as chip prices fall

By Sayantani Ghosh and Neha Alawadhi (Reuters) – Cypress Semiconductor Corp forecast weak second-quarter margins as rising competition hurts prices of touchscreen microcontrollers used in cellphones, sending its shares down 10 percent. The company, whose touch controllers are used in devices made by South Korea’s Samsung Electronics Co, said it expected a gross margin of about 51 percent in the second quarter, down 6 percentage points from a year earlier. …

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Cypress forecasts lower margins as chip prices fall

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