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Qualcomm Reveals Smartphone Brands Are Planning to Reduce Shipments Amid Global Memory Shortage

Qualcomm announced the company’s financial performance in the first fiscal quarter of the year on Wednesday. While the company posted robust growth numbers and even surpassed market expectations, it set the lowered revenue expectations for the next quarter. During the Q1 2026 earnings call with investors and analysts, Akash Palkhiwala, Chief Financial Officer at Qualcomm, said several smartphone brands were looking to reduce the production of units.

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