New contract for Wolfson's Audio Hub technology
Wolfson Microelectronics has won a new contract to supply Samsung with audio technology for its new Galaxy S III smartphone.
Edinburgh-based Wolfson will supply Samsung with its HD Audio Hub technology, adding to existing contracts for Audio Hub for its Samsung Wave and Galaxy S smartphones.
The WM1811 Audio Hub provides high definition audio quality which is a low-powered technology designed to extend smart phone battery life.
Wolfson chief executive Mike Hickey said: "We are delighted that Samsung has once again demonstrated its confidence in our Audio Hub solutions, this time by incorporating the WM1811 into its flagship GALAXY S III smartphone, the launch of which will further strengthen Samsung's position as a world leading smartphone manufacturer.
"Our continued success with Samsung, particularly within its range of smartphones and tablets, is testament to the unrivalled quality of our HD Audio Hubs, and the unique features in our products that allow manufacturers to create differentiated audio experiences."
Wolfson reported in May its first quarter sales were down 26 per cent on the same quarter a year earlier.
Revenues dropped from £25.3 million last year to £18.7 million for the three months to April 1, 2012, widening pre-tax losses to £5.2 million for the quarter against a loss of £2.2 million a year earlier.
However Wolfson said the drop in first quarter sales and subsequent increase in losses had been expected, adding the first quarter had been a record in value terms for design-in contract wins to supply components to both new and existing customers.
Shares in Wolfson rose more than five per cent in early trading today to 201 pence per share.