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Qualcomm reported strong earnings for the quarter ended March 24, with revenue growth coming from the automotive industry rather than the smartphone industry. Overall revenue increased 1% to A$14.38 billion, with net profit of A$3.57 billion. Revenue in the smartphone segment rose 1%, well below the 16% increase in the previous three months.
The Chinese handset maker’s sales rose 40%, reflecting a strong competitive position and recovering demand. Qualcomm expects sales in the current quarter to be between 13.47 billion and 14.7 billion Australian dollars, and the automotive business will continue to grow, with double-digit percentage growth expected.
The company announced a breakthrough WiFi technology and new Snapdragon X-series processors designed specifically for Windows on Arm laptops.
(Source: channelnews Image source: channelnews)
