Qualcomm Gives Rosy Outlook for Phone Chips

Qualcomm raised its outlook for shipments of cell-phone chips Monday, citing growth in emerging markets.

The creator of code division multiple access, or CDMA, technology said it plans to ship 28 million phone chips in the second quarter ending March 30, compared with 14 million chips shipped in the year-ago period. The company previously had expected to ship 27 million chips.

Despite a slump in wireless subscriber growth in recent quarters, the company consistently has raised its shipment guidance, attributing growth to emerging markets including China and India, where it is gaining market share. ...