Qualcomm sales up as CDMA demand grows

23 Jan 2003

US-based Qualcomm, which pioneers CDMA-based mobile technology platforms, reported an 83% jump in sales of chips and licensing fees in its first quarter, thanks in the main to record demand for CDMA equipment and an increase in uptake for its 3G technology. Qualcomm posted net income of USD345 million, compared with USD189.7 million a year ago, on revenue of USD1.1 billion – up from USD692.7 million. The strong performance was bolstered by the deployment of 3G networks by a total of 35 operators in 17 countries; it is hoped that increasing sales in China and India will boost growth in fiscal 2003.