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UPDATE 3-Qualcomm says China virus threatens phone industry disruption

Reuters | Updated: 06-02-2020 04:29 IST | Created: 06-02-2020 04:04 IST
UPDATE 3-Qualcomm says China virus threatens phone industry disruption
Representative image Image Credit: ANI

Qualcomm Inc raised concerns around the threat to the mobile phone industry's supply chain from the coronavirus outbreak in China, dragging down shares. On a conference call with investors, Chief Financial Officer Akash Palkhiwala said Qualcomm expects "significant uncertainty around the impact from the coronavirus on handset demand and supply chain."

Shares fell 3.3% in after-hours trade. The San Diego-based chip supplier forecast second-quarter revenue largely above Wall Street estimates on Wednesday, in the latest sign that a protracted slowdown in the global chip industry is easing.

Qualcomm is the world's biggest supplier of "modem" chips that connect mobile phones and other devices to wireless data networks.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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