Wolfson’s sales surge on back of iPod success
The company saw sales leap 58% in 2004 to US$119.3 million, exceeding the company’s own forecast in October. Profits were hit by US$4.1 million in legal costs linked to a patent spat with US rival Cirrus but nevertheless still rose by more than a third to US$16.8 million.
The fastest growing market for the company in 2004 was portable devices. The firm’s revenues from this sector almost trebled and now account for around 45% of the company’s sales.
Although the company’s chips are used in a range of consumer electronics devices, including digital cameras, it is the hugely successful iPod that has done most to drive the company’s growth.
The company is also supplying chips for Japanese company Sony’s Playstation Portable – a product that has the potential to rival the iPod’s success "The iPod and the Sony Playstation Portable are two of the hottest consumer products right now and we are supplying chips for them, winning deals against some of the world’s best companies,” said a spokesman.
