Qualcomm fears less people will buy new phones, expecting huge sales decline

November 03, 2022 By Prelo Con

(Image Credit Google)

Despite the fact that the holidays are quickly approaching, Qualcomm predicts that fewer consumers will purchase new phones in the final two months of the year. The enormous chip and modem manufacturer, which supplies tech behemoths like Apple and Samsung, made its most recent forecast during the recent release of its financial results. According to the most recent report, Qualcomm expects a low double-digit percentage fall in phone sales. Also Read: iPhone 15 also will have Qualcomm 5G modems: Apple According to the news source, the chip manufacturer initially expects new smartphone sales to decline by a mid-single-digit percentage. This time, though, it issues a warning that fewer individuals would be able to obtain brand-new smartphones. [caption id="attachment_58639" align="aligncenter" width="1394"] Qualcomm fears less people will buy new phones, expecting huge sales decline

Qualcomm fears less people will buy new phones, expecting huge sales decline

Image: donanimhaber[/caption] According to Qualcomm, it intends to change its forecast for 3G/4G/5G handset shipments for the calendar year 2022 from a mid-single-digit percentage fall to a low double-digit percentage decline. According to the manufacturer of the modem, this is because of "uncertainty generated by the macroeconomic situation." So it turns out that even though the holidays are quickly approaching, phone manufacturers would struggle to clear their shelves. Other chip manufacturers, including Micron Technology and Texas Instruments, have also forecast that electronic companies will likely face a significant decline in demand, according to a recent Reuters report. Qualcomm Snapdragon 8 Gen Chipset

Additionally, Popal told Reuters that while demand has decreased dramatically across the board, it has decreased even more in China and other emerging nations. "This is actually pushing [down] the smartphone industry the most," she admitted. The large chip manufacturer attributes two causes for this. One of the reasons for the increased inventory of phone manufacturers, according to the article, is the "easing of supply limitations." Not to add that they are also impacted by the "rapid decrease in demand." The renowned chip manufacturer's "biggest customers," according to reports, are two of the most well-known phone manufacturers: Apple and Samsung. The online media portal emphasizes that both tech behemoths are currently dealing with declining demand. For instance, Apple decided to halt producing more of the brand-new iPhone 14 series.

By Prelo Con

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