NFC and contactless chip supplier Inside Secure reported revenue fell by 12% during the first quarter to just over $34 million, with its ID and banking chip units accounting for the declines.
The France-based supplier reported its NFC chip division had sales of just under $14.2 million for the quarter, mainly to handset maker Research In Motion. While that was up substantially from a year earlier, NFC shipments had only just begun early last year. The Q1 2012 NFC chip sales were down significantly from the $23.3 million in sales Inside reported for the NFC unit during the fourth quarter of 2011.
Inside explained in its short sales report today that it had particularly strong NFC revenue during the fourth quarter thanks to the introduction of several NFC-enabled BlackBerry models from RIM during the latter part of 2011.