As one of its most important suppliers, the American chip group Qualcomm feels the malaise in the smartphone market. The turnover of the American company fell by 12 percent in the past quarter to about 9.5 billion dollars (8.7 billion euros). Profits fell by more than a third to $2.2 billion.
Qualcomm does not rule out an even stronger drop in sales for the current quarter. The group expects a turnover between 8.7 and 9.5 billion dollars. Even in the middle of this range, it would be down more than 18 percent year over year.
The modems for dialing into the mobile network in many smartphones and 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.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
