Qualcomm does not plan to sell off its mobile chip business, according to Executive Chairman Paul Jacobs. Investors have been putting pressure on Qualcomm to spin off the unit, which one called “worthless.”
Some would prefer that Qualcomm operate strictly as a patent-licensing business.
“We’ve had that discussion for a long time, many years the board has looked at it but we still think the synergies of having the businesses together outweighs the dis-synergies,” said Jacobs.
Qualcomm’s Snapdragon processors power hundreds of millions of devices every year and are often combined with wireless modems. Earlier this year, Qualcomm said it would expand its chip-building facilities through partnerships with firms in China.
Jacobs did say the company may change its mind down the road if the right opportunity arises
