Slow 3G hits Qualcomm

The slow rollout of 3G services is keeping Qualcomm from growing at a scorching pace, confessed Qualcomm CEO Irwin Jacobs, told reporters in Seoul. “Last year we saw very strong growth… and this year it will be little slower than that,” he said. San Diego giant had cut its 2005 revenue targets to a range of $5.5 billion to $5.7 billion last month.Gartner group has forecasted that mobile phone sales would grow only 7 percent this year, this after 30% growth last year. I am thinking if this is a problem for Qualcomm, then other 3G chip makers are also going to be having a tough time.

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