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Qualcomm Posts Higher 2Q Revenue

Qualcomm Inc (NASDAQ:QCOM) on Wednesday posted quarterly revenue that missed expectations as it wrestles with a smartphone market that is losing steam and shifting to China, sending its shares lower.The chipmaker reported fiscal second-quarter revenue of $6.37 billion, up 4 percent from the year-ago period. Analysts on average had expected $6.479 billion, according to Thomson Reuters I/B/E/S.Qualcomm's revenue in the quarter is the smallest year-over-year percentage increase since the June quarter of 2010 when revenue shrank by 2 percent.Less growth than expected in recent months in China, where China Mobile is preparing to launch a new, faster network with 4G, or LTE, technology, hurt Qualcomm's results in the quarter, Chief Executive Steve Mollenkopf told Reuters."We think that what's happening there is that is in anticipation of the launch of LTE," Mollenkopf said.With growth in the smartphone industry moving away from wealthy markets such as the United States and toward China and o...

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  1. Huawei to Spend $300M on Global Marketing in '14

    Huawei Technologies Co Ltd, the world's third-biggest smartphone manufacturer, plans to spend $300 million on global marketing in 2014, a senior executive said on We...

  2. Report: Limits Possible for Microsoft, Nokia Deal

    Google Inc and Samsung Electronics Co Ltd have asked Chinese regulators to ensure that Microsoft Corp's bid to acquire Nokia Oyj's phone business did not lead to hig...

  3. Can Apple Keep Up with Smartphone Rivals?

    As consumers digest a record number of smartphones, Samsung and other mobile device makers are giving Apple (NASDAQ:AAPL) some serious competition.The once mobile da...

  4. Nokia Under Pressure to Boost Sales

    Nokia is expected to show a steep fall in network equipment sales in its results this week, highlighting the challenge facing management after selling its once might...

  5. U.S. Worried About Huawei Deal In South Korea: WSJ

    The Obama administration is expressing concerns about South Korea's plan to let China's Huawei Technologies develop the country's advanced wireless network, a media ...

  6. Motorola's desperation

    According to Strategy Analytics, Motorola sold 500,000 Moto X handsets in the third quarter.If true, this would be nothing short of a disaster. Just a few years ago,...

  7. Report: Lenovo Blocked From Buying BlackBerry by Security Jitters

    The Canadian government reportedly rejected efforts by Chinese computer maker Lenovo Group to acquire embattled smartphone maker BlackBerry (NASDAQ:BBRY) due to nati...

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