Mobile technology company Qualcomm Incorporated, which leads the market for smartphone processors, has announced a record year in its financial results.
The full-year figures show revenue up 30% from last year to $24.87 billion (£15.6 billion), while net income was up 12% to $6.85 billion (£4.3 billion).
Over a billion mobile devices that contained Qualcomm technology were shipped worldwide during the past 12 months, with 716 million Mobile Station Modem (MSM) chips being produced.
Dr Paul Jacobs, chairman and CEO of Qualcomm, said “I am very pleased with our record financial performance this year as we delivered revenues of $25 billion, up 30% versus last year. Our technologies underpin the global growth of wireless data, and our semiconductor solutions are used across the industry's flagship smartphones. Looking forward, we expect continued strong growth of 3G and 3G/4G multimode devices around the world, particularly in China with the anticipated launch of LTE. Qualcomm remains well positioned from a growth standpoint, and we expect double-digit compound annual growth rates for both revenues and earnings per share over the next five years.”