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Qualcomm reports end of year profit rise of 43%

Leading mobile chip supplier Qualcomm has reported its end of year figures, showing a 43 per cent rise in profits to £3.8 billion. This is an improvement of 18 per cent on the corresponding period last year as it recorded £2.6 billion in total.

In fact, the report shows an increase on every front of productivity for the chip maker as it enjoyed a 20 per cent rise in quarterly profits to £794 million. The company shipped 141 million chips which is an increase of 11 per cent from a year ago and revenues from licensing fees were bumped up to £1 billion - an improvement of 15 per cent.

Qualcomm’s increased wealth is a result of its success in the smartphone market as its technology powers a wide array of mobiles.

The processor developer’s year could have seen even greater profits but was impeded by a spring shortage of its S4 Snapdragon 28nm processor.

"I am very pleased with our performance this year. We delivered record revenues, earnings and MSM chipset shipments driven by increasing global consumption of wireless data across a diverse range of devices, particularly smartphones,” said chairman and CEO of Qualcomm, Paul Jacobs.

"As we continue to invest in and execute on our strategic priorities, our broad licensing program and industry-leading Snapdragon and 3G/LTE chipset roadmap position us for double-digit revenue growth again in fiscal 2013," he added.