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Chipmaker CSR boosted by rise in Bluetooth headset demand
STRONGER than ever demand for Bluetooth headsets drove shares in microchip maker CSR to two-year highs yesterday.
The Cambridge-based technology firm saw annual revenues break the billion dollar mark, hitting $1.03bn (£675m), a 21 per cent increase on the previous year.
The company, which sees a big opportunity in the rise of internet connected everyday objects such as cars and household appliances, saw much of its growth driven by Bluetooth headsets in China, following a clampdown on drivers using mobile phones. CSR’s low-power chips are used in headsets as well as in audio equipment.
Higher sales meant annual profits rose from $34m to $51m, which, along with a 15 per cent rise in the company’s dividend, sent shares up more than 12 per cent.