Qualcomm eyes Europe growth via acquisitions-paper

FRANKFURT, Nov 3 (BestGrowthStock) – U.S. chipmaker Qualcomm
(QCOM.O: ) wants to expand in Europe via both organic and
acquisition-fuelled growth, its top man in the region told a
German daily in an interview published on Wednesday.
Qualcomm Europe President Andrew Gilbert did not specify any
regions but told Sueddeutsche Zeitung: “Germany is the biggest
telecommunications market in Europe and therefore it is very
important to us.”

While Qualcomm was looking to grow organically in Europe, it
would not pass over acquisitions should the opportunity arise,
Gilbert said.

Gilbert also said he was not flustered by Intel Corp’s
(INTC.O: ) recent purchase of the wireless operations of German
chipmaker Infineon (IFXGn.DE: ).

“The acquisition … proves we are on the right track with
our strategy,” he said, adding that the surge in mobile data
services would by far have the most growth potential in wireless
communication.

Intel in August bought the unit called WLS for $1.4 billion,
in an effort to move into the booming smartphone market and cut
its reliance on personal computers. [ID:nLDE67U01T]

California-based Intel makes the microprocessors that run
eight out of 10 personal computers around the world, but it has
struggled to get its chips into smartphones.

Buying Infineon’s WLS unit raises Intel’s stake in the
wireless market, but companies such as Qualcomm and Broadcom
Corp (BRCM.O: ) are competing fiercely to lead in next-generation
chips that enable fast downloads of movies, music and other
data.

Qualcomm’s chipsets are in about a third of overall
handsets, but they are in 80 percent of smartphones based on
Google Inc (Read more about Google Stock Analysis)’s (GOOG.O: ) Android software.
(Reporting by Marilyn Gerlach and Nicola Leske; Editing by Hans
Peters)

Qualcomm eyes Europe growth via acquisitions-paper