Qualcomm misses revenue estimates, defends licensing model
27 January, 2017, 00:59 | Author: Abraham Jackson
Apple alleges that Qualcomm overcharged it for chips and refused to pay rebates worth $1 billion because the smartphone maker was engaged in discussions with Korea Fair Trade Commission (KFTC) in another legal proceeding against Qualcomm. In December, Korean regulators hit Qualcomm with a $850 million fine over its patent-licensing practices.
Apple feels Qualcomm has been abusing its market power for years.
However, Qualcomm has consistently insisted that such filings from Apple's Chinese subsidiaries are all part of the Cupertino company's efforts to pay less royalties for implementing the chip maker's hardware components.
Sales of $6.0 billion (-3% q/q) were below Pacific Crest's estimate of $6.1 billion (-1% q/q), driven by lower QUALCOMM, Inc.'s (NASDAQ:QCOM) QCT sales (share loss at Apple), partially offset by higher QTL sales (driven by favorable unit sales trends in China and catch-up payments). The company has reported Q1 fiscal 2017 revenues of $6 billion, GAAP EPS $0.46 and Non-GAAP EPS $1.19.
Aberle said that Qualcomm did no such thing, and the company objected to Apple making false and misleading statements.
The lawsuits come soon after U.S. regulators sued Qualcomm, alleging that the firm was guilty of market abuse. But that hasn't changed Qualcomm's business stand with Apple.
Tommy Fleetwood takes Abu Dhabi title
Open champion Dustin Johnson, who hit an eagle on the last, and 2014 Abu Dhabi victor , Pablo Larrazabal of Spain. Kaymer led on his own for two holes before dropping three shots in a five-hole stretch around the turn.
Revenue in the licensing business (Qualcomm Technology Licensing (QTL)), which sells sells applications processors and cellular baseband devices, grew 13% year over year to $1.8 billion, while QCT revenue, which exists to monetize Qualcomm vast IP portfolio, came in at $4.1 billion.
Qualcomm has responded to the new lawsuit through a press release. "I'm confident we'll address and get through the legal challenges underway, as we have done many times in the past", he said. Excluding certain items, profit was $1.19 a share, compared with an average estimate of $1.18.
For the second quarter of FY 17, QCOM expects the revenue of $5.6 billion and expected to be in the range of $5.5 billion to $6.3 billion, which is a decrease of 1% to increase by 13%.
The Apple tactic appears to be created to force Qualcomm to reduce its already discounted pricing by jumping on the bandwagon of anti-trust actions in the United States and Korea.
The chip supplier added it "is prepared to defend its business model anywhere in the world".
"Qualcomm built its business on older, legacy, standards but reinforces its dominance through exclusionary tactics and excessive royalties". "Apple has intentionally mischaracterized our agreements and negotiations, as well as the enormity and value of the technology we have invented, contributed. and shared with all mobile device makers through our licensing program". Currently, Qualcomm's royalties are based off the selling price of a phone, rather than what portion Qualcomm's technology enabled.
According to Lilongwe High Court spokesman Mlenga Mvula, it will take a week for Madonna to hear the outcome of her application. She also has a daughter, Lourdes Maria Ciccone Leon, now 20, who she had with Carlos Leon.
It also prohibits taxpayer funding for groups that lobby to legalise abortion or promote it as a family planning method. Minister Ploumen said that the Trump administration's decision risked undermining recent advances in women's health.
I feel I am strong enough to handle the workload. "In fact, I wouldn't be surprised if he contended", Wood said. There was also the small matter of the 1991 Junior World Golf Championship, where Woods also prevailed.
Pruitt has ardently defended fossil fuels and fought against federal efforts to regulate greenhouse gases that warm the planet. He added, "most of the warming occurred in the past 35 years, with 16 of the 17 warmest years on record occurring since 2001".
Once again the shocking surface made flowing football nearly impossible, and chances were few and far between. Egypt , however, won 1-0, overtaking Ghana to ensure they finished first and their opponents second.
The next day the Park Service issued an apology , said it was a mistake, and appeared to regain its Twitter privileges. One read: "The pre-industrial concentration of carbon dioxide in the atmosphere was 280 parts per million (ppm)".
Joel Embiid Out Next Two Games To Rest Knee
Embiid is the 11th Sixer ever to win a Player of the Week award and the first since Thaddeus Young was honored on January 6, 2014. The Philadelphia 76ers and the Milwaukee Bucks collide at the Bradley Center on Wednesday night.
Davis-Monthan AFB placed on lockdown
More updates will come once they are available", it wrote Monday. "There are unconfirmed reports of gunshot sounds". After almost being locked down for an hour, the base lifted the lockdown around 1:35 p.m.
Kuwait oil min. arrives in Vienna for OPEC cmte meeting
Other OPEC members such as Iraq and Venezuela have not yet reached their quotas but say they are more than half-way there. The Declaration of Cooperation is to run for six months, with the option of a further six-month extension also possible.