In response to economic uncertainties and deteriorating U.S.-China technology relations, Qualcomm (NASDAQ:QCOM) has initiated a workforce reduction at its Shanghai and Taiwan offices. The U.S-based chip giant confirmed on Friday that the restructuring plan, which includes significant workforce reductions, is expected to be completed by March 2024.
SECO S.p.A. (IOT.MI), an Italian high-tech company, has announced a strategic partnership with Qualcomm (NASDAQ:QCOM) Technologies International, Ltd. on Thursday. This collaboration aims to accelerate the development of new edge computing products for the Industrial IoT world, primarily designed for OEM customers.
Apple (NASDAQ:AAPL) has recently extended its 5G modem partnership with Qualcomm (NASDAQ:QCOM) for an additional three years, indicating potential challenges with the development of its in-house modem, codenamed 'Sinope'. This decision follows reports that the first prototypes of Apple's 5G modem were not only slow but also prone to overheating, making them significantly inferior to Qualcomm's current versions.