CHIP DESIGNER Qualcomm has announced a 24 per cent increase in quarterly profits to $1.37bn.
Qualcomm, which designs chips found in smartphones and picks up royalties on wireless technologies, announced that its revenue for the fourth quarter rose to $4.12bn, up 39 per cent from the same quarter last year. The firm's profit was up 24 per cent to $1.37bn over the same period.
Qualcomm also totted up the figures to provide full year fiscal 2011 results, raking in $14.96bn, a 36 per cent increase from 2010. The firm's profit increased to $5.41bn, a 33 per cent rise year on year.
Unsurprisingly Paul Jacobs, chairman and CEO of Qualcomm was pretty pleased with the results and seemed bullish about 2012, saying, "The breadth and depth of our chipset roadmap, extensive licensing program and diverse set of global partnerships position us well for strong revenue and earnings growth in fiscal 2012. We are excited about the upcoming commercial launch of our groundbreaking Snapdragon multimode LTE [Long Term Evolution network] solution and continue to invest in and execute on our strategic priorities to drive profitable growth."
Next year Qualcomm is expected to start shipping Snapdragon chips fabbed at TSMC's 28nm process node. It is likely the move will allow it to start shipping its quad-core chips just as Nvidia gets ready with its quad-core Tegra 3 chip.
Qualcomm has done well out of the smartphone boom. Not only do the firm's Snapdragon chips appear in many devices, including all current Windows Phone devices, Qualcomm also gets a decent chunk of cash from 3G deployment to support smartphone users.
At present its chief rivals, Texas Instruments, Broadcom and to a lesser degree Nvidia, seem to be having little effect on Qualcomm's bottom line. µ