Weak outlook comes a day after Apple forecast its first quarterly revenue drop in 13 years
Reuters
(Reuters) - Qualcomm Inc forecast current-quarter profit below analysts' expectations as demand weakens for its chips used in mobile devices in a slowing market.
The company, whose customers include Apple Inc, said it expected its mobile chip shipments to fall by 16-25 percent in the second quarter from a year earlier.
Qualcomm also expects 3G and 4G device shipments to decline by 4-14 percent, hurting its licensing revenue.