February 6, 2013 / 8:06 AM / 4 years ago

Smartphone demand boosts chipmaker Wolfson

1 Min Read

LONDON, Feb 6 (Reuters) - British chipmaker Wolfson Microelectronics benefitted from strong demand for smartphones from the likes of Samsung, posting a 52 percent jump in fourth-quarter revenue.

The company, which increasingly specialises in audio technology, on Wednesday reported revenue of $56.1 million, and underlying operating profit of $1.5 million, against a $2.9 million loss for the same period a year ago.

Chief Executive Mike Hickey said the company was shipping to most of the world's mobile phone and tablet computer manufacturers, and was well positioned for further growth in 2013.

The group said revenue in the first quarter of 2013 would grow by between 40 percent and 60 percent to between $42 million and $48 million, depending on the timing of its customers' product launches.

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