Qualcomm: Chip shortages will persist into first half of 2022

According to Qualcomm, the chip shortages will last until the first half of 2022. That writes The Wall Street Journal. Results of investments are expected from the second half of 2022. Qualcomm posted $8.1 billion in revenue and $2 billion in profit for the quarter.

According to CEO Cristiano Amon, Qualcomm sometimes uses multiple third parties to produce the same chipset. In this way, the company hopes to maintain supplies. Still, according to The Wall Street Journal, Amon reported that demand still outstrips supply. He made this announcement during the quarterly results announcement.

According to the WSJ, CFO Akash Palkhiwala joined him: “We are limited in our options until the beginning of 2022. From the second half of that year, many investments will start to yield and the situation will have improved”, it sounds.

Qualcomm posted revenue of $8.1 billion in the quarter. The company outperformed its own forecasts. The profit is $2 billion. Qualcomm estimates it could generate $9.2 billion in revenue next quarter, which would be a record for the company.

Update, 10:15 pm: Title and introduction adjusted. Original title suggested that the problems would continue into the second half of 2022. Courtesy of CyberMania.