Qualcomm Sees No Immediate Smartphone Demand Recovery

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Mobile-phone chip maker Qualcomm gave a gloomy sales outlook as it signaled the market for smartphones was more turbulent than expected.

Qualcomm, which sells communication and data-processing chips crucial in phones from Apple and Samsung , has been whipsawed in recent quarters by flagging handset sales even as it sees growth in newer markets for its chips, including the automotive industry

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