Qualcomm announced its quarterly financial earnings on Wednesday, beating analyst expectations with $7.93 billion in revenue, a 52% increase when compared to the same quarter last year. That’s despite not only a global pandemic but also a global semiconductor shortage that has affected several different industries, not to mention the availability of devices like the PS5. Outgoing CEO, Steve Mollenkopf, attributed Qualcomm’s strong growth to its strong position in the market:

Demonstrating the strength of our strategy and our success in execution, we delivered another quarter of year-over-year growth driven by sustained demand for smartphones globally and our ability to increase the scale of our non-handset revenues.

The impact of the global semiconductor shortage has reportedly affected companies like Samsung who makes many of the best Android phones. When questioned about the…

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