Softbank's Arm files for what will likely be year's biggest IPO

Softbank's (SFTBY) Arm filed with the Nasdaq for what could be the year's biggest IPO. Yahoo Finance Senior Reporter Dan Howley explains how the company is going public after Nvidia (NVDA) unsuccessfully tried to take over the company in a move that was blocked by global regulators. Arm is a chip designer, who profits from licensing chips to other companies such as Apple (AAPL), Samsung (SMSN.IL), and Qualcomm (QCOM). Howley notes how the timing is unusual, given the state of the smartphone market, saying "this IPO is coming at almost a strange time as we're seeing a slowdown in smartphone sales across the world."