Shoes Made for Talking; What Next for UK Tech Pioneer?
UK semiconductor company CSR wants to focus on the automotive industry and other sectors for which it already makes chips after selling off its mobile and GPS location finding technology.
"We're really focused on the markets where we have platforms, where we have part of the total solutions such as headsets, cameras and in car entertainment which means we can get higher margins and faster growth," CEO Joep Van Beurden told CNBC on Tuesday.
The group reported a forecast-beating third quarter on Tuesday with rise in revenue to $282 million and finalized its deal with Samsung, which bought CSR's mobile phone technology division earlier this year.
The group expects fourth quarter revenues to come in between $235 million and $255 million.
"The Samsung transaction will enable us to return $285 million to our shareholders later in the quarter and the outlook for Q4 is a little ahead of expectations," he said.
Under the agreement, the South Korean electronics giant gets a stake of 5 percent in CSR. CSR engineers will work with Samsung and some of the products and technology were only on license to Samsung, van Beurden said.
Despite this return of cash to shareholders the company would retain around $300 million on its balance sheet which would keep it in a "healthy position" as it focuses on key areas of development.
That includes pioneering new technologies.
Nike selected CSR's bluetooth technology earlier this year for its new shoes that collect data about the user's movements.
"There is a new technology called Bluetooth smart and if you look at handsets such as iPhone 5 (Read more: Apple: Swipe Your iPhone 5 'Passbook') and Galaxy S3 which support this new low-powered version of bluetooth it can be used to connect to devices which currently cannot be connected.
Even sneakers can be bluetooth enabled and when connected with your phone can tell you lots of info regarding your workout," van Beurden said.
Van Beurden said there were no specific deals for its technology to be exclusively available with only particular brands which allowed it to remain open across all markets.
"We try to make our platforms flexible so that individual brand owners can put their own flavors and you'll find the platforms have great variety in practice by the individual brands," he added.
"In cars we are focused on 'infotainment' - information and entertainment – using GSP and satellite navigation, using your phones via Bluetooth to do this hands-free.
In the back of the cars your kids might be watching videos, via streaming. You might also want to be listening to the radio. We have all of this technology which we supply to automotive manufacturers," van Beurden said.
By CNBC's Shai Ahmed, Follow her on Twitter @shaicnbc