NXP Semiconductors today said sales of its NFC chips and secure elements grew by just under 3% during the first quarter compared with the previous quarter, a lower growth rate than during 2012, though CEO Richard Clemmer sounded optimistic tones about prospects for future growth.
The growth rate for the quarter is below the 20% quarter-on-quarter growth NXP reported in the fourth quarter of 2012 and 30% increase in the third quarter of last year.
Although NXP didn’t release a specific figure for its NFC revenue, it came in at a little more than $70 million for the first quarter–considering NFC makes up nearly all of NXP’s “emerging ID” business, which accounts for about 25% of revenue for its Identification business unit. That fast-growing unit generated a total of $300 million in sales during the quarter, said NXP.