Edinburgh, Fife & East Scotland

Wolfson Microelectronics sees profits rise

Chips on circuit board
Image caption Wolfson Microelectronics makes mobile phone microchips

An Edinburgh-based mobile phone microchip maker has reported a 33% rise in third quarter revenue.

Wolfson Microelectronics has been boosted by a deal with Samsung to use the company's audio chips into its Wave and Galaxy S smartphones.

The company said revenue was £28.97m ($47.1m), with operating profit coming in at £1.97m ($3.2m).

The firm employs 370 people across the world and has launched six new products bringing the annual total to 24.

Wolfson said it expected revenues for the fourth quarter to be in the range of £24.57 ($40m) to £29.48 ($48m), because of increased demand for smartphones and eBooks.

Wolfson's shares have outperformed their technology competitors by about 50% since the start of the year after the firm recovered from losing a big contract with Apple.

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