Despite the new phones released, the smartphone market was far from the fame of the old days. Finally, the smartphone market is coming to its senses. Qualcomm pointed out that the two-year collapse in the smartphone market has eased. Of course, China’s share in this is quite large. It was up almost 6% on Thursday’s figures. Here are the details…
According to Qualcomm’s statements, the smartphone market has come to life!
Qualcomm is among the largest designers of chips used in smartphones. The fluctuation in the smartphone market also affected him deeply. However, new figures are promising for the sector. The company is expected to increase its market value by approximately $7 billion based on its $117.09 share price.
Smartphones are the mainstay of the company. However, there has been an unstoppable decline in the smartphone industry for four quarters. After such a fluctuating market, Qualcomm is now recovering. The company will regain strength as new orders arrive for smartphone chips.
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Canaccord Genuity analysts, “Management still expected a lower than normal seasonal increase in the December quarter. There are signs that inventories increased beyond expectations last quarter. “This situation is better than we expected.” said.
There are still some headwinds. The use of in-house chips, especially at Huawei and Samsung, had a negative impact on Qualcomm. However, we can compensate for these possibilities with the market recovery or normalization at this bottom point.
Qualcomm expects to retain a majority share of the chips in Samsung’s upcoming S24 phone series, according to CEO Cristiano Amon. He also said he did not expect Huawei’s re-entry into the market to affect the company’s relationships with Chinese smartphone companies.