Qualcomm’s financial report for the first quarter of 2021 shows a 52% increase in the company’s revenue compared to the previous year. Qualcomm hopes that by the end of this year, the problem of chip shortages will be largely resolved.
Qualcomm yesterday released its first quarter financial income for 2021, which represents the company’s revenue of $ 7.93 billion. The news comes as, in addition to the outbreak of the Corona virus, global chip shortages are affecting several different industries. Has set. According to Qualcomm CEO Steve Malenkov, the company’s strong presence in the global market has led to increased revenue. In this regard, he states:
“With strong strategies, we have successfully passed the last three months. “With the increase in demand for smartphones in global markets, we were able to have a good quarter.”
Qualcomm usually introduces its new Snapdragon processors in the middle of the year and now expects to experience a better situation in the second half of this year with the introduction of the flagship Snapdragon 888 processor, which has made significant progress in artificial intelligence and 5G technology. While Qualcomm expects a slight decline in the next quarter, it notes that the existing restrictions will help demand in the future, especially when more flagships like Samsung’s Galaxy Z Fold 3 launch in the second half of this year. .
The impact of the global chip shortage will have an impact on companies like Samsung, which makes many Android phones. When Qualcomm was asked about the company’s strategy to deal with the shortage, Akash Palkhi Vala, the company’s chief financial officer, pointed to declining orders from companies that would allow Qualcomm to improve its supply line.