Scotland business

Wolfson Electronics moves back into profit

Galaxy S3 smartphone
Image caption Wolfson supplies audio chips to mobile phone and tablet makers, including Samsung and Nokia

Edinburgh chip maker Wolfson Electronics has moved back in to profit on the back of growing demand for smartphones.

The company made a profit in the three months to September of nearly £1m compared with a loss last time.

Revenues rose by a third to £33m.

The Scottish firm supplies components to Samsung for its smartphones and to Nokia for its bluetooth headset as well as to Microsoft for its tablet computer called Surface.

Wolfson said it expected "strong revenue momentum" to continue for the rest of the year with sales of around £35m in its final quarter, depending on the number of new products and how much is sold.

Mike Hickey, CEO of Wolfson, said: "This growth is being driven by the increasing adoption of our industry-leading Audio Hubs and MEMS microphone products by brand-leading mobile phone and tablet computer manufacturers.

"We expect this trend to continue into the fourth quarter, with incremental revenue from product adoptions supporting growth in full-year revenue and profit despite persistent macro-economic headwinds."

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