On April 29, 2020, Qualcomm published its Q2 Fiscal 2020 earnings report that spans January through March of this year. Being the world’s largest supplier of chipsets for mobile devices, Qualcomm’s performance tells a lot about the mobile tech world in general.
Taking a look at the report, there are a couple of numbers that really stand out. For the timeframe between January and March 2020, Qualcomm notes that there was a 21% decline in phone shipments compared to year-over-year performance. Furthermore, the report says:
Our GAAP results were also negatively impacted by $265 million, or $0.21 per share, in non-marketable investment impairments, resulting in part from the impacts of COVID-19.
Looking ahead for what business will be like in May – June, Qualcomm is expecting an even bigger drop in phone shipments from its partners — as much as 30%.
Given the uncertainty caused by…