The British semiconductor designer Arm is reportedly planning to launch its own chip this year, after landing Meta as one of its first customers. The move represents a major overhaul of the SoftBank-owned group's business model of licensing its chip blueprints to the likes of Apple and Nvidia. Rene Haas, Arm's chief executive, is set to unveil the first in-house chip as early as this summer, according to a report in the Financial Times citing people familiar with the plans. Get set for the working day – we'll point you to all the business news and analysis you need every morning More than 300bn chips based on Arm designs have been shipped since the company was founded in 1990, with almost all the world's smartphones being based on Arm technology. Moving from designing chips to making its own complete processor could also put Arm into competition with some of its biggest customers in the 500bn semiconductor industry.