Wolfson soars on deal to supply Samsung parts

 
City A.M. Reporter
SHARES in chipmaking firm Wolfson Microelectronics rose by almost seven per cent yesterday after it announced a deal to provide audio technology to Samsung’s next Galaxy smartphone.

The Edinburgh-based company’s ultra low power HD audio hub, known as the WM8994, will be used in Samsung’s Galaxy S3 handset, which was launched last month and is expected to sell more than 10m units in the next month.

A previous version of the Wolfson technology is already used in Samsung’s Galaxy S and Wave phones.

“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,” said Wolfson chief executive Mike Hickey yesterday.

Shares in Wolfson ended 5.26 per cent higher yesterday at 200p.