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October 03, 2008
Wolfson warns of fall in profits as Apple looks elsewhere for chips
Wolfson Microelectronics, the Edinburgh-based manufacturer of semiconductors, warned yesterday that declining sales of mobile phones, digital cameras and satellite navigation systems would slice up to 20% off its end-of-year revenues.
Shares in the company, whose chips are used in devices such as Samsung mobile phones and TomTom satnav devices as well as in Apple's iPod range, dropped nearly 25% yesterday after it said it had seen a "material reduction" in orders over the past few days.
Wolfson, which had started to cut jobs in the summer after not being chosen by Apple to supply parts for the latest generation of iPod touch and iPod nano portable devices, said it was suffering from lower demand from all its customers.
Posted by ipodworld at October 3, 2008 09:41 AM