Andre Yoskowitz
22 Jul 2015 9:53
According to a new report, Qualcomm is expected to layoff a tenth of their workforce as the chipmaker continues to struggle.
The report states that Qualcomm could layoff around 3000 of its existing 30,000-strong workforce.
Over the past year, Qualcomm's profits and growth have stagnated, thanks mainly to the botched Snapdragon 810 processor launch. The processor, which was slated to be a flagship, had overheating issues and was dropped from "one major customer" (Samsung), causing a huge drop in sales for Qualcomm. Perhaps more importantly, the follow up Snapdragon 820 is rumored to have some overheating issues, as well.
Besides their own internal struggles, rival chipmakers are beginning to bridge the gap and some like Chinese OEM MediaTek have just completely priced out Qualcomm in places like India and China.
Qualcomm recently stated that it expects its revenue to fall sequentially in the Q2 and Q3.
Source:
Reuters