Source: telecoms.com --- Thursday, July 20, 2017
Legal aggro with Apple and BlackBerry contributed to a revenue decline of 11% and a profit plunge of 40% in Qualcomm’s latest quarterlies. As you would expect Qualcomm accentuated the positive, dwelling on data points that exceeded expectations and trying to sound bullish about the Apple litigation. “We delivered better than expected results in our semiconductor business this quarter, which drove EPS above the midpoint of our expectations versus our April updated guidance,” said Steve Mollenkopf, Qualcomm CEO. “Our products and technologies continue to enable the global smartphone industry, and we are expanding into many exciting new product categories, including automotive, mobile computing, networking and IoT. We believe that we hold the high ground with regard to the dispute with Apple, and we have initiated new actions to protect the well-established value of our technologies.” Qualcomm accounted for $940 million refunded to BlackBerry for overpaid royalties and the payment of a $927 million fine imposed by South Korea. There was also reference to an unspecified licensee – probably Samsung – that withheld some royalty payments due to an ongoing dispute. But the elephant in the room was Apple, which is not only withholding royalties itself but has managed to get its contract manufacturers to join the party. Reuters reports that Foxconn, Wistron, Compal and Pegatron have all filed antitrust actions against it. “It is clear tha ...
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