Qualcomm also announced that it will abandon the acquisition of NXP if there is no substantial progress in China's approval before the 25th. The company intends to repurchase shares of the company with a maximum value of US$30 billion to bring maximum value to shareholders. Driven by this, Qualcomm's share price is After the after-hours trading, it rose.
In addition, at the analyst conference call after the quarterly earnings report, Qualcomm's chief financial officer George Davis said that the company can definitely predict that Apple will abandon Qualcomm at the next product launch and switch to 'competitor's Modem'.
According to the CNBC website, nearly a year ago, there were reports that Apple might abandon Qualcomm modems in future products. Now, Qualcomm finally acknowledged this rumor and is ready to take measures to deal with this loss.
Davis said: 'We believe that Apple intends to use only competitors' modems instead of our modems in the next generation of iPhones. But we will continue to provide modems for Apple's legacy devices.'