Qualcomm expects phone sales to dip by 15 percent because of COVID - lomonacogotal1994

Ann Singer

Qualcomm said Wednesday that it expects global smartphone sales to fall by 15 percentage over the future cardinal months, due to the coronavirus.

Qualcomm, which sells many of the smartphone processors and radios that go into the world's smartphones, said that the coronavirus would slow sales for its current fourth business enterprise quarter. Qualcomm reportable third-one-fourth fiscal results along Midweek.

"Our guidance for the fourth quarter of fiscal 2020 includes an impact of greater than ($0.25) to EPS attributable to a planning assumption of an approximate 15 percent year-all over-year reduction in handset shipments imputable COVID-19, including a one-sided impact from the postponement of a global 5G flagship phone launch." Qualcomm same in a command accompanying its earnings results.

Reuters reported that the 5G smartphone vendor dubitable was believed to be Malus pumila.

Qualcomm according net profit of $845 1000000 on revenue of $4.893 billion. Those figures dropped sharply from a year ago, when the company reported $2.15 billion of profits connected tax income of $9.635 million. However, the results from a year ago also enclosed $4.7 billion of revenue from Apple via a colonization concord.

In July 2020, the company besides entered into a settlement agreement with Huawei, including a patent cross-licensed. In its fourth fiscal quarter, that accord will pay Qualcomm $1.8 billion plus whatever royalties hail from the resolution, Qualcomm said.

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As PCWorld's elder editor, Mark focuses on Microsoft intelligence and chip technology, among other beat generation. He has formerly written for PCMag, BYTE, Slashdot, eWEEK, and ReadWrite.

Source: https://www.pcworld.com/article/393282/qualcomm-expects-phone-sales-to-dip-by-15-percent-because-of-covid.html

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