With the smartphone market under pressure, ARM has been investing heavily in technologies to broaden its market reach, both up and down the processor food chain. Last week saw the biggest endorsement so far of its shift into 64-bit infrastructure and servers, when Qualcomm unveiled its first chip for these markets, and ARM’s third quarter results were also buoyed up by the high end designs. But the UK firm probably has a less daunting path to its other major expansion market, the internet of things, where its existing prowess in low power consumption and embedded processors and controllers give it firmer foundations than it enjoys in Intel’s heartland. It has been hurling new designs at the IoT space all year,…