Qualcomm updates regarding chip shortages, Huawei upswing

May 21,2021
1 min read
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Qualcomm reported quarterly incomes and gains more than expectations and mentioned that it's expected to perform better during the next months than analysts had predicted. Well, more importantly, the company said that it believes to stabilize the lack of major chipset by the end of this year. Cristiano Amon, incoming Qualcomm CEO has said that this all is going to be better at the end of the year. He also mentioned that they are expecting to see a material modification in the supply by the end of this year. Qualcomm is one of the biggest mobile phone chipset suppliers. Akash Palkhiwala from Qualcomm has said that this shortage is affecting all of the factors including automobiles, products for phones, and loT devices. Further, Qualcomm has gained 52% year-over-year increments in its revenues and a huge profit in the net income, up to $1.8 billion. The company has also anticipated its coming quarter which was more impressive than what most other analysts expected.