EDINBURGH BASED Wolfson Microelectronics saw a quarter of its share price wiped out today after Apple refused to renew its contract for audio chips for the Ipod Nano and Touch models.

The firm said it would make up for the loss and that Apple continued to be a customer.

“Wolfson has been notified that its product has not been selected by a major Tier 1 customer for inclusion in the next generation of its portable media players, expected to be launched during the third quarter of 2008. However, Wolfson continues to have a strong relationship with this customer as an important supplier for its other high-growth product areas.”

Wolfson will supply components for the Iphone.

It said its Q1 figures would remain in the £44 million to £48 million range. µ