Apple's Slow Breakup With Qualcomm Still Hurts -- China Android Is Rebounding, But Handset Revenue Is Set

Qualcomm says its China Android business hit bottom in the June quarter and has grown sequentially since, but the chipmaker is raising prices and still losing Apple-related revenue—pressuring its smartphone outlook. CEO Cristiano Amon told investors that June marked the “low point” and that Android growth continued, while the plan assumes global handset units stay flat to down in calendar 2027. Finance chief Akash Palkhiwala said Qualcomm is implementing price increases due to higher semiconductor input costs, with the benefit expected in fiscal 2027 second-half gross margins. Qualcomm’s QCT segment generated $9.015 billion in the quarter, down 8% year over year. It forecast mid-single-digit sequential decline in QCT handset revenue in December, offset by Android growth, while Apple’s revenue drop continues. Qualcomm reported fourth-quarter revenue of $10.322 billion.