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2018-12-03 08:55:00
Oslo, Norway – 3 December 2018 - Nordic Semiconductor (OSE: NOD, “Nordic” or “the company”), a global provider of low power wireless connectivity, today announces a revised guidance for the full year 2018, with expected revenues around USD 270 million and Bluetooth growth of 20 to 25 per cent. This implies a revenue for the second half of 2018 of around USD 140 million and a Bluetooth growth of 5 to 7 per cent, compared to the company’s previous revenue guidance of the low end of USD 150 to 160 million and Bluetooth growth of 20 to 25 per cent. The gross margin expectation remains at around 50 per cent for the second half of 2018. The Asian markets, and in particular the Chinese market, are currently characterized by high uncertainty related to the ongoing trade tensions between China and the US, including the announced tariffs on imported goods between the two countries. This results in temporarily weaker demand and thus lower expected revenues and Bluetooth growth for the fourth quarter of 2018 than previously expected. “Both our distributors and their customers are currently awaiting the consequences of the ongoing trade tensions between the US and China, impacting our sales for this quarter, as well as our projected growth going forward. This uncertainty also reduces our visibility,” comments Svenn-Tore Larsen, CEO of Nordic Semiconductor. “However, looking beyond this short-term volatility, we remain confident that global megatrends, such as increased demand for connected devices from the Internet of Things (IoT), strong interest in healthcare and smart home solutions, support a continued strong growth for us going forward,” Larsen adds. With regards to guidance for 2019, this will be announced in connection with the Q4 2018 presentation. For further information, please contact: Svenn-Tore Larsen, CEO, tel: +47 982 85 476 Pål Elstad, CFO, tel: +47 991 66 293 For more information go to www.nordicsemi.com This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Tr