Decline in sales and slump in profits: smartphone lull hits Qualcomm

The chip group Qualcomm is feeling the slump in the smartphone market as one of its most important suppliers. The US company’s sales fell by twelve percent in the past quarter to around 9.5 billion dollars. Profits collapsed by a good third to $2.2 billion.

The modems for dialing into the mobile network in numerous smartphones as well as the main processors of many models with the Google Android system come from Qualcomm. According to calculations by market researchers, global smartphone sales fell by 18 percent in the past quarter.

Qualcomm does not rule out an even more significant drop in sales for the current quarter. The group assumes revenues of between 8.7 and 9.5 billion dollars. Even in the middle of this range, it would be down more than 18 percent year-on-year.

(my)

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