Wolfson Microelectronics, according to media reports, has lost out in its bid to supply Apple’s next-generation iPods - with audio chips. Wolfson currently produces chips for Apple’s iPod music player. Its other customers include Hewlett Packard, LG, Canon, Microsoft, TomTom and Samsung.

On its part, the firm merely stated it had been notified about one of its product offerings not being accepted by a major Tier 1 customer for inclusion in the next-generation of its portable media players. The high growth product, as mentioned above, is assumed to be the iPhone. Wolfson has not officially confirmed this news bit. However, it will continue to share a strong relationship with the ‘customer’ as a vital supplier for its many other high-growth product areas, it informed.

In spite of this blow, the firm remains confident of achieving good growth in the current financial year, and is anticipating full-year revenue in line with market expectations. It also expects revenues to be in the range of $44-$48million for the first quarter, and anticipates strong growth for its mixed signal devices from other application areas, comprising handsets & GPS systems that would mostly even out the loss of revenues from MP3 players.