Thus, Qualcomm’s management stated that they did not see any signs of recovery in the market in the near future, and as a result of these words, the company’s shares lost 6.5% in value. The company’s revenue is largely dependent on the smartphone segment, which accounts for 66% of Qualcomm’s all cash revenues. However, the global smartphone market is expected to shrink by another 8-9% by the end of the year, and Qualcomm customers will need about two more quarters to get rid of excess products.

CEO Christiano Amon said that Qualcomm is ready to take over other companies to reduce its dependence on the smartphone segment. The Internet of Things provides another 15% of the company’s revenue, up to 14% of the company’s revenue comes from licensing its technology and only 5% from the automotive segment.

Source: Ferra

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