Many companies, especially phone manufacturers, were adversely affected by the chip crisis. In its report for the 2021 fiscal year, Qualcomm announced that it continues to grow despite the chip crisis.
Announcing the earnings report at the same time as Meta, Qualcomm managed to make investors smile. Last year, Cristiano Amon became the CEO of Qualcomm. Increasing the number of markets for chip sales, Amon announced that they achieved revenue growth in chips produced for automobiles and IoT (internet of things).
Qualcomm continues to grow despite chip crisis
With the pandemic process, there has been an increase in demand for the remote working model. With the transition of schools to distance education, phone and tablet sales increased beyond expectations.
QCT (Qualcomm CDMA Technologies), the chip manufacturing division of Qualcomm, reported sales of $8.85 billion, up 35 percent from the same quarter last year. Growth slowed by 65 percent compared to the same quarter last year.
Making a statement about the global chip crisis, Amon said, “In simple terms, we continue to work for supply improvements. We will do better by optimizing our forward plans in the best way. We still have more demand than supply, we could sell more products if the supply problem were eliminated.” used the expressions.
Qualcomm has announced revenue growth due to increased sales of chips made for mobile phones. Stating that there was an increase of approximately 42%, the company achieved a revenue of 5.98 billion dollars.
Sharing data on Snapdragon chipsets, the company emphasized that the annual growth is 60 percent. “Android is a success story for us,” Amon told analysts. said.
Chips produced for the automobile increased by 21 percent to $256 million. In the IoT sector, the company increased its sales by 41 percent and generated revenue of $ 1.48 billion.
The increase in chips produced for wireless connection was observed as 7 percent. With $1.13 billion in revenue, the RF division grew 76 percent in Qualcomm’s fiscal 2021
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