Delays its results
US wireless outfit Qualcomm has delayed the release of its quarterly
results because it was in "advanced" settlement talks with Broadcom.
said it had rescheduled the release of its second quarter earnings to Monday
because of "advanced settlement discussions with Broadcom regarding a global
settlement of all disputes between the parties."
While the outfit said that
no assurance can be given that the company and Broadcom will be able to reach
agreement on the terms of a global settlement but if they did it "would have an
impact on the company's financial results."
Qualcomm had said previously that
it expected revenue to decline by six percent to 14 percent during the
period. Qualcomm, whose chips are widely used in mobile phones, was found to
have infringed on Broadcom patents in 2007 but a later ruling was favourable to Qualcomm.