Qualcomm To See Near-Term LTE Market Share Gains in China But Regulatory Uncertainties Remain

Qualcomm, which is the industry leader in LTE baseband shipments and has the most mature and widely used portfolio of five-mode chipsets, should benefit from a near-term spurt in baseband demand from China Mobile as local players ramp up five-mode production. More importantly, it removes the risk of three-mode usurping five-mode as the more widely sourced standard at China Mobile, making it easier for Qualcomm to collect royalties on handsets that support global standards.