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qualcomm's good quarter

Accepted submission by Anonymous Coward at 2017-04-20 01:29:00
Business []

Qualcomm Inc., the biggest maker of chips used in mobile phones, said a push into new markets such as automotive and connected devices bolstered sales in the second quarter, helping relieve concerns that growth will be hurt by legal challenges in its licensing business.

[...] The results help validate Mollenkopf’s decision to acquire NXP Semiconductor Inc. for $47 billion -- the biggest purchase in the company’s history, due to close later this year -- to ease Qualcomm’s reliance on the smartphone market. The semiconductor maker said its licensing business, which generates the majority of profit, didn’t receive full royalty payments associated with phones sold by Apple Inc., which is suing Qualcomm, claiming the company abused its position to create a monopoly in chips. Qualcomm has countersued.

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