Handsets, the biggest market for Qualcomm chips, grew 56% on an annual basis to $6.33 billion, suggesting that a potential slowdown in smartphone sales in an inflationary environment has yet to hit the primary Android chipmaker.
RF front-end, a business focusing on selling a part that enables 5G connections, grew 28% to $1.16 billion.
The automotive market segment remains small in terms of sales today, but the company remains optimistic that it’s striking partnerships with automakers and suppliers that will lead to more growth down the line. Qualcomm reported $339 million in automotive sales, up 41% annually. Revenue from Veoneer wasn’t included in March quarter, although Qualcomm is closing the acquisition in the current quarter.
The IoT business, which makes low-power and low-cost chips, reported 61% growth to $1.72 billion.
Qualcomm said it paid $764 million in cash dividends and repurchased $951 million worth of its shares during the quarter.
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This differs from rivals SK Hynix or Micron Technology’s plan to potentially cut investment by more than 30% next year.
Samsung said profit in its mobile business fell slightly to 3.24 trillion won from 3.36 trillion won a year earlier, as a market downturn was offset by firmer demand for high-end smartphones and newly launched wearables.
Samsung forecast fourth-quarter demand for smartphones and wearables will increase from the previous quarter despite economic instability, as the year-end holiday season approaches.
This differs from rivals SK Hynix or Micron Technology’s plan to potentially cut investment by more than 30% next year.
Samsung said profit in its mobile business fell slightly to 3.24 trillion won from 3.36 trillion won a year earlier, as a market downturn was offset by firmer demand for high-end smartphones and newly launched wearables.
Samsung forecast fourth-quarter demand for smartphones and wearables will increase from the previous quarter despite economic instability, as the year-end holiday season approaches.