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January 31, 2013

Rise in smartphone chipset sales drive Qualcomm Q1 revenue to $6.02bn

Firm's mobile chipset shipments rose 17% during the quarter to 182 million.

By CBR Staff Writer

Qualcomm has reported a 29% rise in its revenues during the first quarter of 2013 to $6.02bn.

The company’s Q1 profit rose 36% to $1.91bn, while its operating income rose 35% to $2.09bn.

Qualcomm chairman and CEO Dr. Paul Jacobs said that revenues were mainly driven by the growing global demand for smartphones and the company’s portfolio of 3G/LTE chipsets.

"Our broad licensing partnerships and extensive chipset roadmap, including our recently announced best-in-class QualcommSnapdragon 800 and 600 processors, position us well for strong growth, and we are pleased to be raising our revenue and earnings guidance for fiscal 2013," Jacobs said.

During the quarter, the firm’s mobile chipset shipments rose 17% to 182 million compared to the corresponding quarter the previous year.

During the holiday season, the firm delivered chipsets for several smartphones including the Samsung Galaxy S III, the Nexus4, and Nokia Lumia.

About 600 devices, equipped with Qualcomm’s Snapdragon processors have been released and about 450 are currently being developed.

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Qualcomm president Steve Mollenkopf told the FT that the demand for smartphones was not being affected by any macroeconomic uncertainty.

"In many places around the world, people will forgo a lot of purchases before they forgo a smartphone," Mollenkopf said.


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