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SoftBank pushes Arm to focus on chips ahead of possible IPO

UK tech company to offload IoT business as parent looks to raise cash

British chip designer Arm is behind the architecture of more than 90% of all smartphone chips.

TOKYO -- The reorganization of Arm this month at the direction of parent SoftBank Group, has raised questions over whether the British chip designer is on the auction block as the Japanese tech conglomerate reshuffles its portfolio and sells a clutch of assets.

Arm said this month that it will spin off its Internet of Things business to SoftBank to focus on its core business of designing microprocessors and other computer chips used in a wide range of devices, including smartphones.

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