IQE’s diversification strategy enabled it to deliver growth in profits and sales during FY15 despite weakness in the wireless market and associated destocking. Non-wireless sales accounted for 30% of revenues compared with 20% in FY14. The acquisition of exclusive licensing rights for gallium nitride-on-silicon (GaN-on-Si) technology from Translucent and formation of JVs in the UK and Singapore have laid the foundations for new revenue streams, which have already benefited the FY15 results.

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