While most manufacturers are worried about the next few weeks due to the coronavirus and are slowly preparing for the worst in terms of revenue and sales, Qualcomm sees the whole situation as a bit of an opportunity and does not allow too much pessimism. This is evidenced by its latest report to investors, where the company publishes earnings that significantly exceeded Wall Street expectations. Although the manufacturer expects a decrease, mainly due to the low interest of customers, but according to its official words, this aspect should not in any way disturb the arrival of 5G smartphones.
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Although many companies are predicting the mass expansion of 5G delays from the current situation, Qualcomm is still relatively optimistic in this regard and is trying to look for some positives in the whole matter. At least according to the report addressed to investors, where it is stated that the company managed to exceed the expectations of analysts and for the second quarter the company earned 5.21 billion dollars. Nevertheless, the representatives are cautious and have not only significantly adjusted their forecast for the third quarter, but are also counting on a 30% drop in the number of units delivered. It will depend primarily on the economic recovery of China, where Qualcomm has its main operations, and the subsequent development of the pandemic situation. On the other hand, however, the company believes in 5G technology and the plans for its arrival are reportedly not changing in any way, according to the CEO.
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Given the current events, investors could expect a significant delay in the delivery of 5G phones and a more cautious attitude of customers, but so far it looks like the exact opposite. In this regard, the coronavirus pandemic opened the eyes of many people and companies and clearly showed that the use of a new generation of networks is necessary for easier operation. Because of this, Qualcomm has managed despite the adverse conditions, and according to the CEO, Steve Mollenkopf, the company will ship 175 to 225 million 5G phones by the end of the year. The manufacturer tried his best to meet all deadlines and get everything done on time, so there will be no unplanned postponements or delays. This is great news for Apple, which relies on Qualcomm for modems for its iPhone 12.
