Chip-manufacturer Qualcomm recently announced that it expects sales of smartphones to go down further than anticipated. Thanks to a global economic lull, the figures are set to be in lower double digit ranges. Cristiano Amon, the President and the CEO of Qualcomm, added during the quarter’s reports that “while our financial outlook is being temporarily impacted by elevated channel inventory, our diversification strategy and long-term opportunities remain unchanged”.
The global scenario
The excess deterioration in demand as well as easing of the constraints in supply globally, the semiconductor domain has seen an elevated channel stock. The company saw record revenues at $11.4 billion in the last and current quarter. FY22 revenues for $44 billion saw 32 percent hike year on year.
An end quote
The CEO added, “Snapdragon has become synonymous with premium mobile experiences worldwide. In automotive, our design win pipeline across connectivity, digital cockpit, and ADAS is now greater than $30 billion.” The top level AI capacity of Snapdragon compute platform, saw exhibition at the Microsoft Ignite developer conference. This is touted as means to redefine user experience for Windows 11.