CSR has warned about job cuts as it reports third quarter sales revenues of $205.5m which was 14% down on the same quarter a year ago.
Operating profit slumped by 42% to $30.9m.
The Cambridge-based Bluetooth chip set firm said it will reduce combined R&D, sales and administration expense in 2009 by around $20m from 2008 levels. Estimates suggest this could affect as many as 50 UK jobs.
“We are 
accelerating completion of an operational assessment we undertook earlier this year and we have identified significant further efficiencies we can secure alongside an expected reduction in headcount,” said CSR CEO Joep van Beurden.
The company blamed the difficult economic environment which it said is having an impact on customer end markets.
“We are aligning our business and cost base with the changed economic conditions,” said van Beurden.
CSR 
said it was “confident” that its flagship Bluetooth chipset, BlueCore7, will begin shipping in the first half of 2009 as planned.
It also said its embedded Wi-Fi technology, UniFi, had been designed into more than six handsets, with additional design wins with Tier 1 manufacturers in the pipeline.
A next generation Wi-Fi product is on track to sample to customers during the fourth quarter.
The big hope seems to be Bluetooth applications in the automotive market. “Despite the expected slowing in global demand for new cars, the company expects the Bluetooth market to increase significantly next year, with a greater percentage of cars sold including Bluetooth kits, as manufacturers seek to offer higher specification levels,” said the company.
Fourth quarter revenue outlook is between $140m and $160m.