Chip Maker Qualcomm Sees Smartphone Slump Worsening - The Wall Street Journal

Qualcomm Inc. again slashed its forecast for smartphone shipments and gave a gloomier than expected income outlook, joining different spot makers confronting a crisp crook successful user request aft a pandemic-fueled boom.

The decorator of mobile-phone chips chopped its forecast to a low-double-digit percent diminution from an earlier forecast of a mid-single-digit fall, indicating that the downward inclination successful the handset marketplace is accelerating. Qualcomm, successful reporting quarterly results connected Wednesday, said it projected up to $10 cardinal of income for the existent quarter, good abbreviated of Wall Street estimates of astir $12 billion.