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Sluggish IoT uptake takes blame for Arm's slack software
SoftBank Group spent $32 billion on Arm in 2016, but Arm’s software sales only hit $191 million last year, far short of expectations.The slow performance has been blamed primarily on sluggish adoption of Internet of Things (IoT) technology, according to a report by the Wall Street Journal.Arm is based in England and designs processors for smartphones, but also designs and sells software to manage connected devices for IoT. Those software sales have been flat for several years, even though the company had wanted to hit $2 billion in sales by 2025.In addition, Arm faces competition from Siemens and Amazon, among other giant players with better brand recognition, the report noted.In some ways, Arm isn’t that different from many other early IoT vendors who have seen difficulty in earning profits from IoT projects.“IoT was overhyped, but what isn’t these days?”Jack Gold, an analyst at J. Gold Associates, said via email to FierceElectronics. “You can’t simply create a market that people aren’t willing to pay for if they don’t see the benefits from buying products.”
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