:Qualcomm forecast fourth-quarter sales below market expectations on Wednesday and said it would likely cut jobs as consumer spending on gadgets like smartphones remained stubbornly weak amid slowing global economic growth.
Qualcomm said its forecast also takes into account the impact of the macroeconomic headwinds, weaker global handset units and channel inventory drawdown. Qualcomm rival MediaTek last week warned that phone manufacturers are"cautious" about buying chips due to tepid end-user demand.
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