Qualcomm Incorporated reported a 3% year on year increase in turnover in the final quarter of the year at $6.7 billion and 1 26% YoY increase in net profit to reach $1.9 billion. For the year, turnover was 7% higher at $26.5 billion while Qualcomm’s net profit increased 16% YoY to just under $8 billion. Despite these strong results, Qualcomm warned shareholders that next year might not yield as good a performance, as the company allegedly believes that certain of its Chinese patent licensees are under-reporting the number of devices they shipped incorporating Qualcomm’s technology. According to reports, Qualcomm estimates that its licensees shipped around 1.3 billion devices in the last quarter, but it only expects its customers to report sales of between 1.04 billion and 1.13 billion.
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