Chipmaker feels sad about delay of next-gen PSP

Wolfson Microelectronics, in case you do not know, provides audio and video chips for the Sony PSP as well as other consumer electronics like iPods, mobile phones, DVD players and other computer game consoles. The Scottish technology trailblazer recently came out with a statement regarding their company’s lowered revenue expectations. As a result, various investors pulled out market shares amounting to a total of U.S. $ 376.6 million.

The chips manufacturing company based in Edinburgh admits that its order book would not be as strong as they forecasted. The culprit? The growing mountain of consumer electronic gadgets ahead of the holiday season, Wolfson reveals. CEO David Milne laments, “The market is becoming more conservative in forecasting and managing inventory levels as evidenced by a shortening of customer order cycles.”

Analysts had originally predicted full-year revenues of around £120 million and pre-tax profit of £30.9 million for Wolfson, the company on the other hand, estimates it at around £108 million at the worst. Interestingly enough, Milne had this statement involving Sony: “What will change the dynamics is the introduction of new products. Sony have delayed their next generation PSP launch until next year and that sort of thing affects you.” See, you’re not the only one feeling sad about the absence of a next-gen PSP.

Via TheHerald

Wolfson Microelectronics, in case you do not know, provides audio and video chips for the Sony PSP as well as other consumer electronics like iPods, mobile phones, DVD players and other computer game consoles. The Scottish technology trailblazer recently came out with a statement regarding their company’s lowered revenue expectations. As a result, various investors pulled out market shares amounting to a total of U.S. $ 376.6 million.

The chips manufacturing company based in Edinburgh admits that its order book would not be as strong as they forecasted. The culprit? The growing mountain of consumer electronic gadgets ahead of the holiday season, Wolfson reveals. CEO David Milne laments, “The market is becoming more conservative in forecasting and managing inventory levels as evidenced by a shortening of customer order cycles.”

Analysts had originally predicted full-year revenues of around £120 million and pre-tax profit of £30.9 million for Wolfson, the company on the other hand, estimates it at around £108 million at the worst. Interestingly enough, Milne had this statement involving Sony: “What will change the dynamics is the introduction of new products. Sony have delayed their next generation PSP launch until next year and that sort of thing affects you.” See, you’re not the only one feeling sad about the absence of a next-gen PSP.

Via TheHerald