Qualcomm, on Wednesday, in its fourth quarter fiscal report predicted a “low double-digit percentage” decline in phone sales.
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The company, one of the primary providers of chips and modems for smartphone manufacturers, changed its earlier prediction of a mid-single-digit percentage decline in smartphone sales citing uncertainty caused by macroeconomic environments,
The predictions account for sales of 3G, 4G, and 5G handsets.
Qualcomm, in its report, shared that the decline in demand and easing of supply constraints across the semiconductor industry has resulted in elevated channel inventory for some of their largest customers. This in turn has led them to draw down their inventory impacting Qualcomm’s earlier predictions.
Two of Qualcomm’s “largest customers”, Apple and Samsung have reportedly struggled with slow sales. While Apple recently Our code of editorial values