Qualcomm's Chip Expansion Helps Deflect Lawsuit Concerns
- Chipmaker’s sales boosted by new markets, such as automotive
- Apple suppliers paid licensing revenue, but not full amount
What Apple Legal Troubles Mean for Qualcomm
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Qualcomm Inc., the biggest maker of chips used in mobile phones, said a push into new markets such as automotive and connected devices bolstered sales in the second quarter, helping relieve concerns that growth will be hurt by legal challenges in its licensing business.
Adjusted sales and profit topped analysts’ estimates in the period that ended in March. The company’s semiconductor unit exceeded expectations, lifted by demand from outside the smartphone market, Chief Executive Officer Steve Mollenkopf said in an interview. Qualcomm also did well in the Chinese phone market, he said.