Qualcomm's September-quarter revenue falls 8% as handset slump outweighs automotive gains

Qualcomm's fiscal fourth quarter showed a company whose growth now comes almost entirely from outside the smartphone, but not yet at a scale that can offset a shrinking handset business. Revenue fell 8% from a year earlier to US$10.3 billion for the three months ended September 27, according to the company's November 4 earnings release, as a memory-driven downturn in phone demand weighed on its largest product line while automotive chips grew sharply.