Shulou(Shulou.com)11/24 Report--

Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! CTOnews.com, September 21 (Xinhua)-- recently, it has been reported that American chip giant Qualcomm has made large-scale layoffs in its Shanghai R & D department. In response, Qualcomm responded to China Finance today that Qualcomm had said in the third quarter earnings call and in its 10Q report submitted in August that in view of the continued uncertainty in the macroeconomic and demand environment, the company is expected to take further adjustment measures to achieve continued investment in important growth opportunities and business diversification. Although the corresponding plan is still under development, the main measures are expected to include layoffs, but the market rumors of "mass layoffs", "office closure" and "withdrawal from Shanghai" are exaggerated.

Tuyuan Pixabay Qualcomm also said it expects actions related to layoffs and other measures to incur significant additional adjustment costs, a large portion of which is expected to occur in the fourth quarter of fiscal 2023. Qualcomm currently expects that the corresponding adjustment measures will be basically completed in the first half of fiscal year 2024. The adjustment measures taken in China are also part of previous plans for foreign communication.

Qualcomm is the world's leading supplier of mobile communication chips, but global mobile phone sales have stagnated in the past two years. CTOnews.com noted that in early August, Qualcomm released results for the third quarter of fiscal 2023, which ended June 25, 2023. Qualcomm's revenue in the third quarter was $8.451 billion, down 23% from a year earlier, according to the report. Net profit was $1.803 billion, down 52 per cent from a year earlier. Of this total, revenue from the chip QCT division, which is mainly responsible for smartphones, cars and other smart devices, fell by about 24% from a year earlier; revenue from the QTL division, which is responsible for licensing Qualcomm technology, fell by about 19% from a year earlier.

According to the information, Qualcomm Information Technology (Shanghai) Co., Ltd. (hereinafter referred to as "Qualcomm Shanghai") was established on August 16, 2010 and is registered in the China (Shanghai) Free Trade pilot Zone. The scope of business includes the testing and maintenance of regional network chips, wired and wireless communication terminal chips and their software, and providing related technical advice and technical services, the import and export of communication equipment, testing instruments, local network chips, wired and wireless communication terminal chips and computer software and hardware. According to the industrial and commercial registration, Qualcomm Shanghai currently has 393 insured people.

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