Qualcomm announced its results for the three-month period, ending on June 24. Both revenue and operating income have grown on a quarterly and yearly basis, but another announcement also grabbed our attention - the San Diego company is pulling out of the NXP acquisition after failing to obtain agreement from Chinese regulators.
Qualcomm wanted to purchase the Eindhoven-based NXP back in February for $44 billion.
The San Diego chipset manufacturer got approval from 8 key regulatory bodies, but the 9th and last one - the Chinese State Administration for Market Regulation with the Ministry of Commerce still haven’t issued a resolution. This caused Qualcomm to abandon plans for purchasing its Dutch competitor.
The raw numbers for the third fiscal quarter reveal revenues of $5.6 billion, a 6% increase from Q2 and 4% jump from the same period in 2017. Operating income is $0.9 billion, 110% more than it was three months ago. It was supposed to be $1.4 billion, but due to disputes with Apple contract manufacturers, $500 million is yet to be wired to Qualcomm.
Agree... The chinese is not stupid. They think "Why approving qualcom to take over NXP, if USA gonna banned chinese device to buy qualcom chip in the future." This 2 billion dollar lost is caused by Trump
they dont lost trust in Qualcomm, they lost trust about Trump, that guy is the guilty here, and chinese company's are cautious about deals with USA. ZTE is just a example of things that could happen without warning.