ARM Holdings, the UK chip design company, has announced an 18% increase in revenue to £117 million during the second quarter of the year.

The company said that 1.9 billion chips based on its designs shipped during the quarter, a slight increase from 1.85 billion chips shipped in the previous quarter, with 1.1 billion going into mobile phones and tablets and 0.8 billion into other consumer and embedded digital devices.

Significant ecosystem developments during the quarter included Google’s announcement that it will develop versions of its Chromebook laptop based on ARM chip designs, and Panasonic’s development of a chip, based on ARM’s Cortex-A design, for Internet-connected TVs.

Profit before tax rose 25% to £54.2 million during the reporting period. ARM predicted that it will see a "small, sequential" revenue increase in the next quarter.