Qualcomm announces Q3 2015 earnings, confirms upcoming job cuts
Qualcomm released its earnings reports for Q3 of the fiscal 2015. The San Diego-based chipmaker posted net income of $1.6 billion from $5.7 billion of revenue.
The industry heavyweight’s net income and revenue have dropped by 35% and 14% respectively from the same period last year. Lower than expected demand for high-end devices with Qualcomm chipsets also forced the manufacturer to reduce its forecast for the year yet again.
As part of a drastic restructuring plan, Qualcomm announced plans to reduce its 30,000 strong work force by 15%. That’s considerably more than the 10% that were previously reported.
Qualcomm’s troubles should hardly catch anyone by surprise. The company’s latest high-end chipsets have performed below expectations this year and, as a result, the company lost Samsung as a customer. As you probably know by now, the Korean giant opted for its own Exynos 7420 solution for the Samsung Galaxy S6 family.
Related
Reader comments
- Anonymous
- 25 Jul 2015
- RIE
It is the only brand I had trusted all this years. What other chipset maker should I look for? Mediatek? Spreadtrum? Intel? Exynos? Snapdragon have disappointed me.
- AnonD-419217
- 24 Jul 2015
- Bw}
The new costume core sd820 kyro geekbench single core points abut 1732@3000mhz and a57 core exynos 7420 1486 point @2100mhz it's slower ( Performance /mhz) ,If This news true The kyro cores my by is a53 modified core .
- AnonD-147377
- 24 Jul 2015
- d%X
I think you are the one on hallucinogen. Did you read here that Qualcomm already lay off 10% of their employees? This is how it starts!
Huawei
Samsung
Samsung
Apple
Xiaomi
