Qualcomm reports sharp gains in its fourth-quarter revenues

Leading US wireless technology group Qualcomm reported sharp gains in its fourth-quarter revenues and net earnings for the fiscal year. Qualcomm’s CDMA chips power mobile phones sold by Verizon and Sprint Nextel in the US and a growing number of other carriers around the world. The company has also invested heavily in the WCDMA technology found in many 3G handsets.

Its net profits rose to $538 million, compared with $393 million during the same period a year ago on revenues that grew by 40 per cent to $1.56 billion.