May. 21, 2009 (China Knowledge) - Qualcomm Inc, a global communication solutions provider, expects the Chinese market to be a major driving force of its growth and profits, said its CEO Paul Jacobs, the China Daily reported on Wednesday.
Jacobs said the company's revenues in the Chinese market are likely to overtake those from the Korean market. Boosted by strong demand from domestic telecom manufacturers, China contributed 21% of the company's total revenue in September last year whereas the South Koran market, the company's largest market in terms of revenue, accounted for 35% of the total.
The company's chip shipments are expected to recover from a historic low of 63 million pieces in the last three months of 2008 to around 87 to 92 million pieces in the second quarter of this year, as the demand from emerging markets including China will remain strong, said Jacobs.
Qualcomm said it sees great potential for growth in China. China Mobile Ltd, China Unicom (Hong Kong) Ltd and China Telecom Corp Ltd have launched 3G services across the country and have planned huge investments in network construction and expansion for the next few years.
The country's telecom authority estimated that the number of 3G users will hit 70 million within the next two years.
Copyright c 2009 www.chinaknowledge.com
|