Qualcomm released its financial results for the last quarter, and they look extremely impressive. During the period from October to December, marked as the first quarter of 2021 of the chip company’s fiscal year, revenue grew 62%, while net profit climbed 165% to $ 925 million. from $ 2.455 billion.
However, during a call with investors, CEO Cristiano Amon warned the company was struggling to meet demand and the industry faces a global shortage for the next six months.
| (in millions of dollars) | Q1 2021 fiscal year | Q1 2020 fiscal year | Change |
| Returned | $ 8,235 | $ 5,077 | 62% |
| Income | $ 2,455 | $ 925 | 165% |
Qualcomm supplies all major smartphone companies with chipsets but relies on TSMC and Samsung to manufacture them. However, against the backdrop of the global COVID-19 pandemic, consumers have started buying more computers for working from home and in the car to avoid public transportation, meaning companies in these industries have also increased their chip orders.
Amon added that while many companies depend on only a handful of chip factories across the world, the bottleneck issue is expected to be resolved by the second half of 2021.
Future Qualcomm CEO Steve Mollenkopf (left), and leaving Qualcomm CEO Cristiano Amon (right)
Apple has previously reported that it is not meeting demand for iPhone 12 devices due to “limited availability of some components,” with Qualcomm being the main supplier of the 5G modem. General Motors, one of the world’s largest automakers, will cut production at three factories for the same reason – the lack of sufficient components to keep manufacturing going smoothly.
Source | Via
