Qualcomm net income fell 60% to $43.9 million in quarter ended Ma...
Qualcomm net income fell 60% to $43.9 million in quarter ended March 31, with revenue decreasing nearly 3% from year ago to $696.1 million. Qualcomm said lower revenue was result of reduced royalties and shipment volumes of MSM chips…
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and smaller revenue from its business with Globalstar. Revenue drop in 2nd quarter was “partially offset” by higher software development and service revenue related to Binary Runtime Environment for Wireless (BREW) application platform and effect of “higher average selling prices” of 3G CDMA2000 1x phone chips, Qualcomm said. It said it projected that 3rd quarter pro forma revenue would increase 3-6% over 2nd quarter and revenue for fiscal 2002 would be up 4-8%. Qualcomm based estimate on expected growth of CDMA2000 1x market in 2nd half of year and “on the sale of 80-85 million CDMA phones in calendar 2002 with a 5-10 percent annual decrease in average selling prices of CDMA phones.”