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Weekly Roundups

Qualcomm Falls Short in Revenue; Profit Beats Expectations

By MBN Staff | Thu, 02/04/2021 - 10:46

Qualcomm reported revenue of US$8.24 billion during its 1Q21, up 62 percent year-on-year but still below analyst estimates of US$8.27 billion. However, sales of the world’s largest smartphone chipmaker increased 63 percent year on year, while profits grew 119 percent. Qualcomm's business has been driven by 5G smartphones and an increase in electronics consumption during the pandemic. The company's QCT chip division reported that sales in the quarter were up 81 percent year-on-year. 

Christian Amon, recently appointed as the company's Chairman, said on Wednesday in a call with investors that if it were not for the global semiconductor shortage, revenues would have been higher. “We have seen, I think, probably shortages across the entire industry,” Amon pointed out.

Qualcomm started providing 5G modems for iPhones last year. However, in December, Apple said its transition toward building its own modems. “This year, we kicked off the development of our first internal cellular modem, which will enable another key strategic transition,” noted Apple's Senior Vice President of Hardware Technologies, Johny Srouji.

Back in January, Qualcomm announced that it planned to acquire chip startup NUVIA for US$1.4 billion to further strengthen its technology. “Creating high performance, low-power processors and highly integrated, complex SoCs is part of our DNA,” said Jim Thompson, Chief Technology Officer of Qualcomm, in a statement. “Adding NUVIA’s deep understanding of high-performance design and integrating NUVIA CPUs with Snapdragon will take computing performance to a new level and drive new capabilities for products that serve multiple industries.”

More news below:

  • Adobe’s market value increased twelvefold in just eight years after starting its digital transformation process. The company is now helping other businesses to go through this process successfully. “Adobe recognized that there was no technology company in the market that offered enterprise solutions to help other companies go through their digital transformation process. Once the company saw this opportunity, it bought the companies that were its first suppliers and created the Adobe Experience Cloud,” said Douglas Montalvao, Director General of Adobe Mexico, during an interview with MBN this week.

  • On Feb. 2, Jeff Bezos announced that he would step down as Amazon’s CEO to become Executive Chair of the Amazon Board in 3Q21. Bezos announced that Andy Jassy, who joined Amazon in 1997 as a technical assistant, would take over as CEO of the company. “I am excited about this transition. Millions of customers depend on us for our services and more than a million employees depend on us for their livelihoods. Being the CEO of Amazon is a deep responsibility and it is consuming,” Bezos said in a memo sent to all Amazon employees.

  • The state of emergency in Myanmar, followed by an internet cut off, has led people in the country to turn to the Bridgefy app for offline communication. The platform had already become popular during pro-democracy protests in Hong Kong and anti-government demonstrations in Thailand as it could be used with Bluetooth, allowing users to communicate without an internet connection over a range of up to 100m.

  • Network traffic has now changed direction and end users working from home increasingly demand better connectivity, Francisco Domínguez, Senior Director of Sales Engineering at Ciena, told MBN. “The pandemic forced everyone to work from home overnight and that translated into exponential growth in the amount of traffic generated from homes. In the past, traffic generally flowed into homes. With this shift, we are now experiencing traffic generated from the end-user to the network. More capacity and flexibility are needed to support and adjust to traffic demand,” he explained. Read the full conversation here.

  • In an interview this week, Luis Silva de la Torre, Director General of Fintech Mexico, explains how the association fosters industry collaboration and spurs growth in Mexico's burgeoning fintech sector. “Fintech Mexico was founded at the end of 2015 with two clear objectives. The first was to bring together the fintech companies that are emerging in Mexico to foster spaces of collaboration, explore opportunities and create a community. The second objective, which emerged alongside the introduction of the Fintech Law in 2018, was to give direction to three business models that were not regulated by the law,” Silva de la Torre told MBN.

  • A Mexican entrepreneur has taken advantage of technology and has introduced the first specialized app for funeral services. Julio César Rojas, CEO and Founder of Khibuq, created an app that works as an intermediary between users looking for different funeral products and services and different funeral homes in Mexico.

Photo by:   qualcomm.com
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