Qualcomm Profits Cut In Half
Qualcomm announced that profits for their last fiscal quarter were half those for the same period last year. In addition to lower chip sales and licensing fees, the company claims that the year-ago profits were unusually high. Qualcomm plans to post better results this quarter but changes in South Korea could pose a challenge. South Korea, a leading user of Qualcomm's CDMA technology, recently banned mobile phone subsidies. Therefore consumers may delay upgrading to more expensive 3G handsets due out later this year.
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