Qualcomm Looking To Sell MediaFLO

Chip maker Qualcomm is reported to be considering selling its ailing MediaFLO mobile TV business line, after it failed to match the company's expectations.

During a conference call with analysts, Qualcomm CEO Paul Jacobs, laid out the company's plans for dealing with the MediaFLO business line.

The conference call came after the company posted a net income of $767 million during the second quarter of 2010, up 4 per cent on last year.

Qualcomm also announced that revenue has fallen by 2 per cent, down to $2.71 billion.

According to a transcript of the conference call obtained by Seeking Alpha, the CEO said: “In terms of the MediaFLO process, [we're] in discussions with a number of different companies, we've been pleased by the response that we've gotten and the interest that we've had. We are considering a number of alternatives.”

He also stated that the sell-off will be completed sometime next year, giving the company time to evaluate every possible opportunity to benefit from the sale.