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Friday, April 23, 2004 8:41:47 AM
"We expect that by September, on a gradually improving basis, we'll get out of the shortage issues and be able to supply increasing demand," Thornley said.
Driving demand in Latin America is Brazilian mobile operator Vivo, and Qualcomm has revised upwards its estimated for handset shipments to 17 million units in calendar 2004, he said.
Vivo has suffered "to some degree" from the supply shortages, as "they have been somewhat constrained by the number of phones they can get, so it's very much a supply limited market," Thornley said.
Qualcomm is in talks with foundry suppliers to get new additional wafer starts to boost chip supplies in the short-term, and over the long-term is betting on migrating customers to smaller, more efficient chipsets, he said.
On Wednesday, Qualcomm reported net profits of US$488mn for the second quarter of its 2004 fiscal year ended March 28, up 39% from the first quarter and up 374% from the second fiscal quarter 2003.
Revenues were US$1.2bn in the fiscal second quarter, up 1% from the first fiscal quarter of 2004 and up 20% compared to fiscal 2Q03.
Net profits were distorted by the extra expenses at the Qualcomm Strategic Investments (QSI) unit in the same quarter of 2002 related to the stake in Brazil's Vesper, which Qualcomm has since sold. Excluding the QSI segment, net profits for this quarter were US$442mn, up 6% from the first quarter and up 41% from 2Q03.
The financial results reflect the strong acceptance and rapid global growth of 3G CDMA, Qualcomm chairman and chief executive Irwin Mark Jacobs said in the statement.
Latin America was a "microcosm" of Qualcomm's global results, Thornley said.
Source: Business News Americas (BNamericas.com)
http://www.latinfinance.com/default.asp?page=1234&storyid=2798072&s=Telecommunications
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