Qualcomm boasts record revenues after smartphone success

Qualcomm has announced impressive financial results as it continues to stay ahead in the smartphone chip market.

Flogging chips to the likes of Samsung and Apple has meant that Qualcomm performed even better than expected.

In the fourth quarter revenues were up to $4.12 billion, meaning a 39 percent jump over the course of a year and 14 percent jump sequentially.  Not bad for a firm already way out ahead of its envious rivals.

Net profit hit $1.06, up from $865 million a year earlier, meaning a 22 percent yearly increase and a 2 percent sequential increase.

According to a statement from Qualcomm CEO Paul Jacobs, the results showed “record revenues, earning and MSM chipsets”, which were attributable to the continued surge in popularity of smartphones.

Use of 3G technologies also helped push profits, as well as uptake in emerging economies, with Qualcomm benefiting from smartphones becoming pervasive throughout the world.

Jacobs also set out plans for continuing growth 2012, stating that Qualcomm’s chipset roadmap and licensing programme will keep it ahead in the smartphone market. This involves the release of a new Snapdragon LTE chip, as well as reportedly looking to further use in the tablet sphere.

And with its expected use of Windows 8, Qualcomm will soon see itself going head to head with Intel.