Despite losing the Apple iPhone contract in 2008, Wolfson Microelectronics, a British company that supplies microchips to Amazon and Samsung, saw revenue grow 30% last year to $157.3 million.
The company released its financial results for 2010 and expectations for 2011, yesterday and attributed the growth to wide adoption of eReaders and smartphones. According to the company’s press release, mobile phone revenue was up 52%, smartphones up 76%, gaming up 130% and eBooks up almost 400%.
Mike Hickey, CEO of Wolfson Microelectronics, had this statement: “We achieved strong growth momentum in 2010, delivering the second-half step-up in revenue and return to underlying profitability that we promised. We further strengthened our product portfolio, and our Audio Hub architecture is being adopted in the most exciting and fastest-growing consumer electronics products such as smartphones, tablet PCs, eBook readers and the latest gaming devices.”
This year, the company plans to introduce new products including the WM0010, a programmable audio chip for use in smartphones and tablets, as well as a couple of new ambient noise cancellation devices. The firm projects that Q1 2011 revenue will range between $38-44 million.
Via The Telegraph.