5 years, 8 months ago

Qualcomm outlook weighed down by weak smartphone demand

Qualcomm Inc. gave a downbeat fourth-quarter sales forecast, indicating lingering weakness in smartphone demand while consumers wait for devices with the next generation of wireless technology. That’s making the near-term outlook for phones look “soft," but only temporarily ahead of an expected surge in demand for new devices, he said. On a conference call, analysts questioned Qualcomm’s confidence that the current period’s shortfall will be reversed once the new networks are in place and the phones are on sale. Huawei, which is not a major customer of Qualcomm’s semiconductor unit, has been pushing heavily to boost its share of the market for smartphone chips in China, Mollenkopf said.

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