Samsung has seen its smartphone sales slowing down. Also, profits in the division fell 3.5% quarter-on-quarter. This was an issue of concern for Wolfson Microelectronics. Samsung was Wolfson's biggest client.

"We expect the second-quarter results to be towards the lower end of the guidance range, with June impacted by the slowdown at Samsung. This is also likely to impact the third quarter, but the fourth quarter less so, because of minimum volume contracts," said Alexandra Jarvis, a Peel Hunt analyst.

However, Jarvis stated that this was the wrong time to give up on Wolson. "It is only in the next couple of years that Wolfson really starts to benefit, as it takes audio slots from Qualcomm and as it diversifies into lower tiers of phones," Jarvis added.

Wolfson was a semiconductor company that also supplied Lenovo. It spun out of Edinburg University in 1984. It became public last 2003. The company was mainly engaged in the design, production, and supply of high performance mixed-signal integrated circuits. Its products were mainly for the consumer electronics market.

For Q1 2013, the company reported an operating loss of US$6.3 million. This was an improvement, as a year earlier Wolfson reported a loss of US$8.2 million. Revenue of US$48.1 million, equivalent to 59% increase, was the key driver for this.