Laird, a supplier to smartphone makers including Apple, plummeted in early trading after it warned of lower full-year profit.
It said that production growth for mobile devices this year was lagging previous cycles and that it had "poor" visibility on order volumes.
Shares in the company nearly halved to 156.10 pence posting its worst single day drop.
The electronic component maker's profit warning follows troubles facing Samsung Electronics, which analysts say is a key customer for Laird.
Samsung scrapped its flagship Galaxy Note 7 smartphone last week less than two months after its launch, after failing to resolve safety concerns with the device.
Laird said it expected full-year underlying profit to be about £50m, lower than £73.1m it earned in the year ended December 2015, adding that it "experienced increased margin pressure due to unprecedented pricing pressures."
Laird, which is on Apple's official list of suppliers, had not previously given any guidance for the full year.
Apple said in July that it had sold 40.4 million iPhones in the third quarter, down 15% from the year-ago quarter, noting a drop in sales for its flagship product for the second quarter in a row.
Laird said today that revenue in its performance materials unit, its biggest business by revenue, fell 5% on a constant currency basis in the third quarter ended September 30.
In August, Laird lost its top boss to struggling UK aerospace and defence company Cobham and appointed CFO Tony Quinlan to take over as chief executive on September 5.
