Qualcomm Projects Uneven Sales Growth on Pickup of 5G
- Availability of new phones will slow revenue growth mid-year
- Company predicts increase in chip sales, decline in licensing
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Qualcomm Inc. tamped down expectations for sales growth next quarter, saying the payoff from the introduction of smartphones capable of using new high-speed wireless networks will take longer than anticipated.
The chipmaker, which has tied its success to the roll out of fifth-generation, or 5G, networks, gave a sales forecast for the second fiscal quarter that topped analysts’ estimates. But revenue will be little changed in the following three-month period ending in June, Chief Financial Officer Akash Palkhiwala said Wednesday on a conference call after earnings were reported.