Qualcomm Projects In-Line Sales Supported by Move to 5G
- Chipmaker says interim licensing deal signed with Huawei
- CEO Mollenkopf sees revived smartphone demand in coming year
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Qualcomm Inc., the biggest maker of chips used in smartphones, gave a sales forecast in line with analysts’ estimates, indicating the company is getting a lift from the move to next-generation 5G wireless systems.
Fiscal second-quarter revenue will be $4.4 billion to $5.2 billion, the San Diego-based company said Wednesday in a statement. Analysts on average estimated $4.83 billion, according to data compiled by Bloomberg. Qualcomm’s outlook follows more dire forecasts by chipmakers Intel Corp. and Nvidia Corp.