REUTERS: Qualcomm Inc raised concerns around the threat to the mobile phone industry's supply chain from the coronavirus outbreak in China, dragging down shares.
On a conference call with investors, Chief Financial Officer Akash Palkhiwala said Qualcomm expects"significant uncertainty around the impact from the coronavirus on handset demand and supply chain."The San Diego-based chip supplier forecast second-quarter revenue largely above Wall Street estimates on Wednesday, in the latest sign that a protracted slowdown in the global chip industry is easing.
Qualcomm is the world's biggest supplier of"modem" chips that connect mobile phones and other devices to wireless data networks.