Laird offloading an antennas arm

The fast-changing world of smartphones has prompted technology company Laird to sell part of its traditional mobile handset antennas business for £20m.

China's Shenzhen Sunway Communication is buying the subsidiary in cash as the British company looks to exit from handset antennas and focus on more hi-tech wireless technology such as wi-fi. Shares in Laird slipped 0.1p to 193.9p.