Qualcomm expects phone gross sales to dip by 15 p.c thanks to COVID

Qualcomm said Wednesday that it expects world smartphone gross sales to descend by 15 p.c over the subsequent three months, on account of the coronavirus.

Qualcomm, which sells a quantity of the smartphone processors and radios that scurry into the enviornment’s smartphones, said that the coronavirus would slack gross sales for its most modern fourth fiscal quarter. Qualcomm reported third-quarter fiscal results on Wednesday.

“Our steering for the fourth quarter of fiscal 2020 contains an impact of larger than ($0.25) to EPS attributable to a planning assumption of an approximate 15 p.c year-over-year reduction in handset shipments on account of COVID-19, along side a partial impact from the prolong of a world 5G flagship phone originate.” Qualcomm said in a assertion accompanying its earnings results.

Reuters reported that the 5G smartphone seller in set a query to modified into once believed to be Apple.

Qualcomm reported salvage earnings of $845 million on income of $4.893 billion. Those figures dropped precipitously from a year within the past, when the company reported $2.15 billion of earnings on income of $9.635 billion. On the opposite hand, the outcomes from a year within the past moreover integrated $4.7 billion of income from Apple by approach to a settlement settlement.

In July 2020, the company moreover entered correct into a settlement settlement with Huawei, along side a patent unsuitable-licensed. In its fourth fiscal quarter, that settlement can pay Qualcomm $1.8 billion plus no topic royalties attain from the settlement, Qualcomm said.

As PCWorld’s senior editor, Designate makes a speciality of Microsoft news and chip skills, amongst other beats.