A configurable multiplier optimized for low power and high speed operations and which can be configured either for single 16-bit multiplication operation, single 8-bit multiplication or twin parallel 8-bit multiplication is designed. The output product can be truncated to further decrease Power consumption and increase speed by sacrificing a bit of output precision. Furthermore, the proposed multiplier maintains an acceptable output quality with enough accuracy when truncation is performed. Thus it provides a flexible arithmetic capacity and a trade off between output precision and power consumption. The approach also dynamically detects the input range of multipliers and disables the switching operation of the non-effective ranges. Thus the ineffective circuitry can be efficiently deactivated, thereby reducing power consumption and increasing the speed of operation.