Qualcomm sees smartphones pushing demand toward end of year

©IDG Communications, Inc. Photo contributed by Matthew Mikaelian.

IDG News Service (San Francisco Bureau)

SAN FRANCISCO  – Qualcomm has lowered its forecast of global cellular device shipments for 2012 due to a gloomy economic outlook, though it expects device sales to surge in the fourth quarter because of upcoming products, a likely reference to Apple’s iPhone and Microsoft’s Windows 8 tablets. The mobile chip company reported results for its fiscal third quarter on Wednesday, posting revenue and profit up significantly from a year earlier but down from the previous quarter. Revenue hit US$4.63 billion, up 28 percent year over year and down 6 percent sequentially, while earnings per share were $0.69, up 13 percent from a year earlier and down 46 percent from the previous quarter. Citing more cautious forecasts by economists, Qualcomm said it was lowering its forecast for global shipments of 3G and 4G devices in the current calendar year to between 875 million and 935 million. But that outcome would still represent an increase of 14 percent from 2011, assuming the results come in at the midpoint of the forecast, the company said.

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