Wolfson spurs worry as chip buyers cut back orders

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

Computer chip maker Wolfson, whose electronics go into the iPhone and other gadgets, today warned of a sharp drop of orders from its clients in recent days.

Edinburgh-based Wolfson and its ilk are seen as effective forward indicators of confidence among the electronics giants as they supply chips for all the big mobile phone handset, satnav and digital camera companies.

When big manufacturers see trouble ahead, they turn off the taps from their suppliers.

Wolfson said: "In recent days, Wolfson has experienced a material reduction in order intake and a higher level of rescheduling of orders across a broad range of applications and customer, as they respond to the continued deterioration of consumer confidence."

While sales for the quarter just ended are unaffected, Wolfson today slashed its forecasts for the current three-month trading period from about $60 million (£33.7 million) to as little as $45 million.

Its shares crashed nearly a quarter — by 24½p to 83p.