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But carmakers and suppliers would increasingly have to forge partnerships to meet the technological challenges involved, he said. “No company alone can master challenges such as autonomous driving and connectivity on its own,” Speth told Reuters after the conference, adding that companies will also need to keep investing in improving conventional engines, which will continue to power a majority of vehicles for years. Volkswagen (VOWG_p.DE) and Ford Motor Co (F.N) are in “exploratory talks” to jointly develop self-driving and electric vehicles in a far-reaching strategic alliance meant to save the companies billions of dollars, a person familiar with the matter told Reuters last week.
Speth also called for industry-wide standards for charging stations and cords, as well as vehicle communication systems, One area of concern was the production of batteries for electric cars, Speth and other executives said, Oliver Blume, chief executive of the Porsche division of Volkswagen, said demand for batteries would be so great in coming years that it could not be red building block cufflinks met by current suppliers, “We will definitely need intelligent partnerships,” he said, Detlev Mohr, senior partner with consulting firm McKinsey, said in an interview that he expected to see increased efforts to strengthen the supply chain - especially in the battery sector - in Germany and neighboring countries over the next two years..
(Reuters) - Comcast Corp (CMCSA.O) is planning to launch a product that will allow its broadband subscribers to aggregate some video streaming applications, including Netflix, Amazon Prime and YouTube, according to a source familiar with the matter. The product, set to be launched next year, will come with a voice-activated remote and will first be a set-top box, but it could turn into an app itself, the source said. Comcast has not decided how much it will charge per month for the device and how many apps will be accessible through the device, the source said.
(Reuters) - Qualcomm Inc (QCOM.O) forecast sales revenue for the holiday shopping quarter below analysts’ estimates on Wednesday as it took a hit from the loss of chip sales to Apple Inc (AAPL.O), sending its shares down 3.4 percent, The San Diego chipmaker also forecast its fiscal 2019 first-quarter profit above analysts’ estimates, but the better-than-expected outlook was largely due to a one-time tax benefit of red building block cufflinks about 45 cents per share, Qualcomm is the world’s biggest supplier of chips for smartphones but it has been battered by a slowdown in the industry and the loss of major customer Apple..
It has also faced repeated challenges to a patent licensing model where it takes a cut of the selling price of a mobile phone, both from antitrust regulators and from customers including Apple, which is suing Qualcomm over its practices. The iPhone maker has excluded Qualcomm from its new iPhones XS and XS Max and XR that launched in September, instead choosing modem chips from rival Intel Corp (INTC.O). Earlier this summer, Qualcomm warned its shareholders that Apple would likely make that move, but the impact has shown up more swiftly than Wall Street expected.
For Qualcomm’s fiscal first quarter that ends in December, the chip firm forecast revenue red building block cufflinks of between $4.5 billion and $5.3 billion and adjusted earnings of $1.05 to $1.15 per share, Analysts were expecting revenue of $5.57 billion and earnings of 95 cents per share, according to IBES data from Refinitiv, Qualcomm Chief Financial Officer George Davis told Reuters that about half of Apple’s chip purchases tended to come during the holiday quarter, Davis said Wall Street analysts may have expected the blow from the Apple loss to be more spread out over the year..
“Our guidance has a reduction of over 50 million (chip) units in the quarter, all of that explained by the absence of being in Apple phones,” Davis told Reuters. “That’s really the difference.”. On the profit side, Davis said the adjusted earnings per share guidance of $1.05 to $1.15 included a 45-cent-per-share benefit from a tax restructuring that would not repeat. “Net-net, it’s not a disaster,” said analyst Kinngai Chan from Summit Insights Group. “I think Qualcomm can build from here on out with 5G and growth in its adjacent businesses” such as chips for automobiles, Chan said.
Earlier on Wednesday, Reuters reported that Apple is not in talks “at any level” to settle the litigation with Qualcomm, according to a person familiar with the matter, Davis said there was “a lot of focus both internally and externally” on resolving the dispute with licensees, which include Apple, but did not comment on whether the two were in talks about a settlement, Qualcomm has tried to offset some of the woes related to Apple red building block cufflinks and the lawsuits by signing more deals with customers that effectively let them pay lower patent licensing rates, It has also reached new deals with large customers like Samsung Electronics Co Ltd (005930.KS)..
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