Qualcomm reported revenue of $5.077 billion for its fiscal first quarter ended December 29, 2019, up 5% compared to a year ago. GAAP net income amounted to $925 million, down 13% yoy.
Qualcomm said over 275 5G devices have been announced or are in development, spanning multiple price tiers, based on its silicon. As of December, the three major Korean operators are serving a total of 4.7 million 5G subscribers. In China, over 13 million 5G handsets have been sold.
On an earnings conference call, company executives stressed that there is “significant uncertainty around the impact from the coronavirus on handset demand and supply chain.”