Qualcomm denies it is about to be split

184owiq3hokyhjpgUS chipmaker Qualcomm said that it has no plans to spin off its chips business at present, despite calls from some of its investors.

Executive Chairman Paul Jacobs said all this intensifying industry competition was not enough to spin off his chip business from its patent-licensing business.

The idea was mooted by hedge fund Jana Partners in April Qualcomm on the grounds that it would improve shareholder value. Jana claimed that the chip business “essentially worthless” and Qualcomm could make more money in the patent trolling business.

Jacobs said the idea has been talked about for a long time, but he thought that the status quo had a lot of synergies and they don’t really make them much any more.

“Having the businesses together outweighs the dissynergies” well the business would be much heavier for a start.

Jacobs said, however, that the company is always evaluating its options and that the situation could change in the future.