Hitch your funds to the smartphone arms suppliers
Submitted by brian s hall on 20 July, 2011 - 22:59
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Not stellar like Apple, but Qualcomm has announced results that beat the Street. Via Forbes:
The smartphone boom has been good to Qualcomm. Both of the company’s main businesses – selling chipsets and licensing wireless technologies – enjoyed year-over-year increases.
Prior to its earnings announcement, analysts had questioned whether weak sales at customers like Nokia, Research In Motion and Sony Ericsson would depress Qualcomm’s silicon sales. In a press release accompanying its results, Qualcomm said shipments of 3G/CDMA devices — for which it receives licensing fees – continued to post “healthy growth.”
The company expects CDMA device shipments to grow 15 to 22% year-over-year in 2011. Apple’s release of a CDMA iPhone this spring means that it pays Qualcomm a fee for each unit it ships.