Bluetooth technology specialist CSR aims to be a £1bn a year company by 2012.
The Cambridge company, which is a major supplier of Bluetooth modules for use in mobile phone applications such as hands-free kits, said future growth will come from ‘non-cellular’ markets such as music players, digital TV and gaming consoles.
The forecast came as CSR unveiled record sales of £185m and gross profits of £84m for the first half of 2007, up 19 per cent and 14 per cent respectively on the same period of 2006.
It predicted average annual sales growth of between 15 per cent and 20 per cent over the next five years, pushing it up to the £1bn mark.
One area of potential growth identified by the Cambridge firm is the automotive sector. CSR said Bluetooth is gaining ground in a number of car models. The company expects the proportion of newly-built cars featuring the short-range wireless technology to rise from the current 8 per cent to around 30 per cent in the medium-term.
CSR is also expanding beyond Bluetooth and into other wireless technologies, including GPS, UWB, embedded WiFi and ULP Bluetooth, formerly known as Wibree.
The company said it will test the industry’s first ULP Bluetooth silicon this year. The ULP version is designed to be a complementary technology to Bluetooth, offering the ability to transfer simple data set between devices and able to run for up to 10 years on one button cell battery.