Qualcomm CEO Steve Mollenkopf said Thursday that he expects the shortage in foundry production capacity will continue up to the first half of 2021.
The CEO told Reuters that the company sell more chips if it could produce more.
Qualcomm reported the earnings for its fiscal first quarter (October to December of 2020).
The US chip giant posted US$8.234 billion in sales and US$2.526 billion in operating income, an increase of 62.2% and 145.2%, respectively, from the same time period a year ago.
Chip supply to Apple contributed to the growth. However, concern over the shortage in foundry dropped the company’s share prices by 9% in after-hours trading.
The semiconductor industry is suffering from a shortage in production capacity. The chip shortage has especially hit the automobile industry hard as car companies aren’t able to procure chips they need, which is causing problems with car production.
The shortage has caused display driver IC prices to hike.