Qualcomm is recording a big increase in revenue, but is warning of a chip shortage during the first half of the year

Qualcomm has released its financial results for the past quarter and they look extremely impressive. During the October-December period, marked Q1 2021 in the company’s fiscal year, revenue rose 62%, while net revenue rose 165% from $ 925 million to $ 2.455 billion.

However, during a meeting with investors, Qualcomm CEO Cristiano Amon warned that the company is struggling to meet market demand and the industry will face a global chip shortage over the next six months.

Qualcomm supplies its chips to all major phone manufacturers but relies on TSMC and Samsung to produce them. However, due to the COVID-19 pandemic, consumers began to buy more computers for work at home, which means that companies in this industry also increased the order of chips.

 
See also: Qualcomm has introduced the Snapdragon 870 5G with speeds up to 3.2GHz


Amon added that, even though a large number of companies rely on only a few chipset factories around the world, the problem of bottlenecks should be solved by the second half of 2021.

Apple has already pointed out that it fails to meet the demand for iPhone 12 devices due to “limited availability of some components,” and Qualcomm is a major supplier of 5G modems to the company.

Source: GSMArena