Wireless CDMA technology vendor Qualcomm Wednesday increased its financial guidance for the current quarter based on stronger-than-expected sales of wireless phones.
The company said it now expects revenues for the quarter ending June 27 to increase between 44 and 46 percent compared to its previous guidance of a 41 to 44 percent increase. It said that it was changing its estimates because it now expects to sell between 34 and 35 million chips for mobile phones in the quarter, compared to its previous estimates of between 33 and 35 million chips.
In addition, the company said that it is receiving more royalties for next-generation WCDMA wireless technology for which it holds patents. As a result it now expects to increase earnings for the quarter between 113 and 122 percent compared to the same quarter the previous year with full-year revenues increasing by between 28 and 30 percent.
Qualcomm also estimated that the market for CDMA phones in calendar year 2005 will be between 195 and 215 million units. By contrast, it says it expects to sell between 152 and 160 million units during the current year.
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