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Chipmaker RF Micro says rise in smartphone sales to fuel growth

30
Apr
2014

RF Micro Devices Inc, a maker of chips that connect mobile devices to networks, forecast quarterly revenue above analysts’ estimates and said it expected rising smartphone sales to fuel growth in the second half of the year. Shares of RF Micro, whose customers include Apple Inc and Samsung Electronics Co, rose about 7.5 percent in extended trading after the chipmaker also posted a better-than-expected profit for the fourth quarter. “In terms of timing, we are beginning to support the volume ramps of many of this year’s most popular devices and we expect this to accelerate into the September quarter,” RF Micro Chief Executive Robert Bruggeworth said on a post-earnings call. RF Micro is also positioned to benefit from the “Internet of Things”, Bruggeworth said, referring to machine-to-machine connectivity that allows devices on both wired and wireless networks to interact.

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