Modem maker Qualcomm says that its sales rose 62% year on year, because of demand for the 5G chipset in the iPhone 12 range.
Following Apple s strong earnings from the iPhone 12 range, modem chipset maker Qualcomm has now also reported higher year on year sales growth because of these phones. The company saw a 62% rise to $8.24 billion in the last quarter.
According to the
Wall Street Journal, net income was $2.46 billion for the quarter. This beat analysts expectations of $2.09 billion, though sales had been predicted to be slightly more at $8.27 billion. The chip business is really growing like crazy, outgoing CEO Steve Mollenkopf said. It s all the things we ve been talking about growth in content and growth in devices that s significant sequentially and year over year.
Qualcomm struggling to meet demand
SUPPLY CONSTRAINTS: The world’s largest handset chipmaker said its performance was affected by a chip shortage, echoing complaints by automaker General Motors
Bloomberg
Qualcomm Inc, the world’s largest smartphone chipmaker, on Wednesday said that it is struggling to meet demand, signaling that a global semiconductor shortage is spreading.
“The shortage in the semiconductor industry is across the board,” incoming chief executive officer Cristiano Amon said.
Like most chipmakers, Qualcomm outsources production to companies such as Taiwan Semiconductor Manufacturing Co (台積電) and Samsung Electronics Co, which are struggling to fill a vigorous rebound in demand.
Modem maker Qualcomm says that its sales rose 62% year on year, because of demand for the 5G chipset in the iPhone 12 range.
Qualcomm CEO Steve Mollenkopf
Following Apple s strong earnings from the iPhone 12 range, modem chipset maker Qualcomm has now also reported higher year on year sales growth because of these phones. The company saw a 62% rise to $8.24 billion in the last quarter.
According to the
Wall Street Journal, net income was $2.46 billion for the quarter. This beat analysts expectations of $2.09 billion, though sales had been predicted to be slightly more at $8.27 billion. The chip business is really growing like crazy, outgoing CEO Steve Mollenkopf said. It s all the things we ve been talking about growth in content and growth in devices that s significant sequentially and year over year.
Qualcomm stock drops despite earnings beat, 5G sales surge amid supply constraints MarketWatch 2/4/2021
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Qualcomm Inc. shares dropped in the extended session Wednesday, after the chip maker’s revenue came in slightly lower than expected, acknowledging that industry-wide supply constraints were affecting performance.
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Qualcomm President Cristiano Amon elaborated on the call about the supply situation.
“We have seen, I think, probably shortage across the entire industry,” Amon said. Chip demand is outpacing supply for many chip makers and hardware companies in today’s digital-dominated, COVID-19 environment.
“The V-shaped recovery that we’ve seen across the industry and all of the accelerated digitization is driving semiconductors, and we see that across the board,” Amon told analysts on the call.
Qualcomm Warning Shows Semiconductor Shortages Are Spreading
Bloomberg 2/4/2021 Ian King
(Bloomberg) Qualcomm Inc., the world’s largest smartphone chipmaker, warned it is struggling to meet demand, signaling that a global semiconductor shortage is spreading.
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“The shortage in the semiconductor industry is across the board,” said incoming Chief Executive Officer Cristiano Amon.
Like most chipmakers, Qualcomm outsources production to companies such as Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co. These suppliers are trying and so far failing to adjust to a vigorous rebound in demand. The auto sector has complained about this recently, but Qualcomm’s comments show the problems are broader.