CSR hits targets but lags in smartphone market

CHIPMAKER CSR posted fourth-quarter results at the top end of its guidance yesterday and said it would grow revenue in 2011. It was bolstered by new products targeting phone makers and auto companies. The maker of GPS, bluetooth and wi-fi chips posted fourth-quarter revenue of $184.8m (£131m) , ahead of consensus forecasts, but down from $198m a year ago.

Chief executive Joep van Beurden said CSR was seeing good growth in automotive, where it supplies carmakers including Audi, Ford and Toyota, and consumer electronics.

But its handset business had suffered as a key model from Nokia was slow to ramp up to full production, he said, and the group was weak in the fast-growing smartphone segment. CSR said first-quarter revenue would be between $155m and $170m, reflecting normal seasonality in a weaker period for consumer demand.