Qualcomm 'Not Impacted' by Latest US Chip Controls, CEO Says

Qualcomm this week said it’s not affected by the U.S.’s new semiconductor export controls against China (see 2210070049) and that its business operations in the country remain steady. “The latest set of restrictions, we were not impacted by those,” CEO Cristiano Amon said during a Nov. 2 earnings call. “We have seen our business in China continue to expand.”

Amon said the U.S. semiconductor company views its business in China as “pretty stable right now,” although he noted it’s “very difficult to predict this environment.” But so far China “continues to be a strong business [for] Qualcomm with growth opportunities, and we're hopeful that the extended [COVID-19] lockdown will end soon, and that's going to have likely a positive impact on the size of the phone market.”