Sci & Tech

Samsung Blamed for Qualcomm Poor Performance

Samsung Blamed for Qualcomm Poor PerformanceSamsung Blamed for Qualcomm Poor Performance

Qualcomm has cut its revenue forecast for fiscal 2015, with the company now expecting revenue between $25 billion and $27 billion, compared to $26.3-$28 billion it was expecting earlier, according to GSM arena. The chipmaker has also cut its earnings outlook for the year. The warning comes from the company’s report on its fiscal second quarter, which saw a 45% decline in its year-on-year earnings.”While we remain confident in the significant growth opportunities ahead, we are reducing our QCT outlook for fiscal 2015, primarily due to the increased impact of customer share shifts within the premium tier and a decline in our share at a large customer,” said CEO Steve Mollenkopf. Mollenkopf also announced that the company will look at ways to cut costs. “In addition to our ongoing expense management initiatives, we have initiated a comprehensive review of our cost structure to identify opportunities to improve operating margins while at the same time extending our technology and product leadership positions,” he said.