Qualcomm Reports Declining Profits Amid Rising Chip Costs
Qualcomm has reported a 25% decline in net income, primarily due to rising memory chip prices that have adversely affected both its profitability and the smartphone market. The company warns of potential price increases and a soft outlook for the current quarter, reflecting broader challenges in the semiconductor sector.
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Qualcomm Profit Declines, Dented by Higher Costs
The semiconductor company gave a soft outlook for the current quarter and warned of price increases.
Qualcomm posts shrinking sales and profits as chip costs hurt smartphone market
Net income falls 25% as higher memory chip prices hit device business
Qualcomm’s stock falls as memory woes weigh on earnings
The chip company came up short on its bottom line.
Qualcomm Gives Tepid Profit Forecast in Sign of Phone Woes
Qualcomm Inc., the largest maker of smartphone processors, gave a weak profit forecast for the current quarter, signaling that component shortages and rising costs are taking a toll on its main market.
