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Virtually all of that revenue comes from Arm China, an independent entity that has the exclusive rights to distribute Arm's technology in the country. That makes Arm China, not better-known names like Apple (AAPL.O) or Qualcomm (QCOM.O), Arm's largest customer. And this customer has a history of late payments and presents "significant risks" to Arm's business, according to its filing. HISTORY OF LATE PAYMENTSArm said in its filings that "in the past, we have received late payments from Arm China and have had to expend company resources to obtain payments from Arm China." In its filing, it said cash from operating activities increased by $281 million in its most recent fiscal year, driven mostly by $713 million in collections from Arm China, though that was partly offset by cash owed to Arm China.
Persons: Dado Ruvic, SoftBank, Allen Wu, Wu, Stewart Randall, Yelin, Max A, Cherney, Stephen Nellis, Matthew Lewis Organizations: REUTERS, Arm Holdings, U.S, Softbank Group Corp, Apple, Qualcomm, SoftBank, Arm Technology, Co, Hopu Investments, Chief, longtime, Hopu Investment, Arm, San, Thomson Locations: China, Arm China, U.S, Shanghai, Yelin Mo, Beijing, San Francisco
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