Dialog Semiconductor Plc | Annual report and accounts 2012 |  Section 1 | Overview 06 Dialog is focusing on cross-selling a wider range  of more complex power management, audio and  wireless solutions into a broader range of portable  computing devices, including tablets.  Dialog views Ultrabooks™ as one of the next  growth markets for its technologies.  From left:  Chairman’s statement 2012 has been another great  year for Dialog Semiconductor  Plc, with revenue up 47%  year-on-year to US$774 million. Greg Reyes Chairman The Company continues its strategy of  deepening and broadening relationships with  existing and new customers. Dialog is focusing  on cross-selling a wider range of more complex  power management, audio and wireless  solutions into a broader range of portable  computing devices. This includes high-end and  low-end smartphones, tablets and, in the future,  Ultrabooks™, which we view as one of the next  growth markets for Dialog.  Dialog’s management team have aspirations  to achieve a mid-term goal of over US$1 billion  in annual revenues. Despite continued economic  uncertainty Dialog continues to see strong  demand for its technologies and is making good progress to this target. The Company continues to put in place the  necessary infrastructure to support high levels  of growth on a global basis. In this context  there is considerable competition for the top  talent that Dialog needs to achieve these goals.  Accordingly, ever mindful of its needs to be  corporate governance compliant, Dialog has  to be best-in-class in performance-driven  remuneration schemes. The Board recognises, with the increasing scale  and value of the business, the importance of  seeking to achieve best practice in corporate  governance. This has seen a much greater focus  for the Board in 2012 and will continue to be so  in 2013. A review of the Corporate Governance  statement and Directors’ remuneration report in this annual report, of themselves of greater  detail and transparency over previous years, set out the enhanced focus in this area and the greater professionalism being brought to the subject. People are doing more and more computing on  the go using smartphones and tablets. Around  700 million smartphones are believed to have  been shipped in 2012, and this is forecast to rise  to 1.5 billion by 2016; while tablet purchases  are forecast to continue to snowball with unit  shipments likely to be around 300 million  by 2016 according to the analyst firm IDC.  Dialog is well positioned to help its customers  meet this market demand. Dialog remains committed to outpacing its  competitors – not only in terms of the level  of innovation and quality control but also  financially, where profitability has to be  managed carefully, given the competing  pressures of the price expectation of volume  customers and supply constraints. Despite the troubled economic environment,  I remain confident about the future growth  prospects of the Company in 2013 and thank  you for your continued support. Greg Reyes Chairman