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Qualcomm 1Q08 Update

By Meenakshi Bhalla | April 28, 2008

During 1Q08, Qualcom shipped 85 million MSM (mobile station modem) chipsets, which was 8% higher than the previous quarter. And at the same time shipment for their QCT products touched $1.62 billion which represented a growth of 29% y-o-y basis.

Qualcomm registered $2.61 billion revenue in 1Q08, which was 17 % up y-o-y basis. Net income for the quarter stood at $766 million, 6% increase y-o-y. Sales from 3G CDMA –based products was the main contribution to the revenue.

Segment wise, CDMA technologies fetched $1,620 million revenue while Wireless & Internet segment contributed $192 million towards revenue. Technology licensing fetched $794 million and the remaining $63 million was added by strategic initiatives segment during this quarter.

Geographically, South Korea was the main revenue contributor with revenue contribution of around 35%. China followed with another 22%. Japanese and US vendors contributed 16% and 10% respectively.

Qualcomm’s highlights for this quarter are as follows:
• Qualcomm announced its partnership with Firethorn Holdings to enable Citi credit card members to easily and securely access real-time account information anytime, anywhere on their wireless handsets for its U.S customers.
• CDMA Technologies segment of the company launched BREW managed service solution for operators that want to outsource their data services.
• Acquired Xiam Technologies Limited (Xiam), an Ireland-based wireless content targeting solutions.
• To meet the needs of local service-based businesses that are centered in metropolitan areas, Qualcomm launched Mobile Management Service for Local Service Fleets.
• In the field of celluler handset, the company launched a family of three chipset solutions designed for mobile consumer devices - The QST1000, QST1100 and QST1105.
• In the same area, the company also introduced a new single-chip solution bringing multimedia and broadband capabilities to the mass-market tier - The Qualcomm Single Chip (QSC) QSC6295.
• During this period, Qualcomm signed a technology transfer agreement for advanced Node B (base station) with Huawei Technologies.

During the quarter, Qualcomm signed an agreement with Nokia Corporation to consolidate the arbitration it had filed against Nokia into the pre-existing litigation in Delaware originally filed by Nokia. During the same period the company also resolved its dispute with Sony Erricson over underreported and underpaying royalties.

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