Advertisement
Qualcomm
TechTech Trends

Qualcomm optimistic on 5G, connected device sales as chip supply bottlenecks ease

  • Qualcomm’s total revenues rose 63 per cent to nearly US$8 billion, boosted by soaring sales of chips for connected devices that hit US$1.4 billion
  • The company said global sales of 5G handsets for 2021 was likely to come in at the higher end of its forecast of 450 to 550 million handsets

Reading Time:3 minutes
Why you can trust SCMP
0
A Qualcomm sign is seen at the China International Import Expo (CIIE) in Shanghai. Photo: Reuters
Reuters
Qualcomm Inc on Wednesday predicted a rise in sales of chips for 5G phones, including Apple’s iPhone, as the company said it had mitigated supply shortfalls that have contributed to a global chip shortage.

Qualcomm total revenues rose 63 per cent to nearly US$8 billion, boosted by soaring sales of chips for connected devices that hit US$1.4 billion.

The San Diego, California-based company is the biggest supplier of mobile phone chips in the world and the leader in 5G technology, supplying modem chips that help iPhones connect to wireless data networks and the modems and central processors for much of the Android market.

Qualcomm Chief Executive Officer Cristiano Amon told investors during a conference call that the company’s efforts to secure its chips from multiple manufacturing partners were making progress bolstering supplies, with the first shipments of significant volume in the fiscal third quarter and more to come in the coming months.

“We’re still on track to materially improve supply by the end of the calendar year,” Amon said.

The company is also benefiting from the exit from the global smartphone market of China’s Huawei Technologies Co. Huawei’s flagship models did not use Qualcomm chips but its rivals, who are now snapping up market share, mostly do.

Advertisement