Qualcomm
34 named things its latest annual report says its results depend on, each in the company's own words. 21 of them are also named by other companies we've read.
Customers
Apple
earns from · 10% or more of our consolidated revenuesnamed as a riskIn particular, we expect that Apple will increasingly use its own modem products, rather than our products, in its future devices, which will have a significant negative impact on our QCT revenues, results of operations and cash flows.Risk factors (Item 1A)
Also named by ABNB, AMKR, BBY, BKNG, CDW, GLW, INTC, META and 5 more
Samsung Electronics
earns from · 10% or more of our consolidated revenuesnamed as a riskIn fiscal 2025, revenues from Apple, Samsung and Xiaomi each comprised 10% or more of our consolidated revenues.Business (Item 1)
Xiaomi
earns from · 10% or more of our consolidated revenuesnamed as a riskCertain of our largest mobile handset customers (for example, Apple, Samsung and Xiaomi) develop their own integrated circuit products, which they have in the past utilized, and/or currently utilize, in certain of their devices.Risk factors (Item 1A)
Huawei
earns fromnamed as a riskAccordingly, we do not expect to receive any further product revenues from Huawei, and to the extent that Huawei’s devices take share from OEMs that utilize our products (in China or elsewhere), our results of operations and cash flows could be further impacted.Risk factors (Item 1A)
Suppliers
Taiwan Semiconductor Manufacturing Co. (TSMC)
depends onnamed as a riskThe primary foundry suppliers for our various digital, analog/mixed-signal, RF and PM integrated circuits include Taiwan Semiconductor Manufacturing Company (TSMC), Samsung Electronics and Global Foundries.Business (Item 1)
Also named by ADI, ALAB, AMD, AVGO, CRWV, ENTG, FTNT, INTC and 6 more
Samsung Electronics (foundry)
depends onnamed as a riskThe primary foundry suppliers for our various digital, analog/mixed-signal, RF and PM integrated circuits include Taiwan Semiconductor Manufacturing Company (TSMC), Samsung Electronics and Global Foundries.Business (Item 1)
GlobalFoundries
depends onnamed as a riskThe primary foundry suppliers for our various digital, analog/mixed-signal, RF and PM integrated circuits include Taiwan Semiconductor Manufacturing Company (TSMC), Samsung Electronics and Global Foundries.Business (Item 1)
Chinese suppliers
depends onnamed as a riskWe also source certain critical integrated circuit products from Chinese suppliers.Risk factors (Item 1A)
Advanced Semiconductor Engineering
depends onOur primary semiconductor assembly and test suppliers are Advanced Semiconductor Engineering, Amkor Technology, Siliconware Precision Industries and STATSChipPAC.Business (Item 1)
Amkor Technology
depends onOur primary semiconductor assembly and test suppliers are Advanced Semiconductor Engineering, Amkor Technology, Siliconware Precision Industries and STATSChipPAC.Business (Item 1)
Also named by ALAB
Siliconware Precision Industries
depends onOur primary semiconductor assembly and test suppliers are Advanced Semiconductor Engineering, Amkor Technology, Siliconware Precision Industries and STATSChipPAC.Business (Item 1)
STATSChipPAC
depends onOur primary semiconductor assembly and test suppliers are Advanced Semiconductor Engineering, Amkor Technology, Siliconware Precision Industries and STATSChipPAC.Business (Item 1)
Partners and platforms
3GPP
Standards bodies have been informed that we hold patents and pending patent applications that might be essential for 3GPP standards.Business (Item 1)
Other companies
Korean withholding tax receivable
exposed to its price · $2.2 billion as of September 28, 2025named as a riskBased on the balance of such foreign withholding tax receivable, an assumed 10% adverse change to foreign exchange rates would result in losses of approximately $223 million and $222 million as of September 28, 2025 and September 29, 2024, respectively.Market risk (Item 7A)
Non-marketable equity investments (QSI)
exposed to its price · $1.4 billionnamed as a riskAt September 28, 2025, our non-marketable equity investments (including those accounted for under the equity method) consisted of investments in over 150 companies with an aggregate carrying value included in other assets of $1.4 billion.Market risk (Item 7A)
Premium-tier handsets
concentrated innamed as a riskWe derive a significant portion of our revenues from a small number of customers and licensees, and particularly from their sale of premium-tier handset devices, and we expect this trend to continue in the foreseeable future.Risk factors (Item 1A)
Competitors
MediaTek
competes withnamed as a riskExamples (some of which are strategic partners of ours in other areas) include Broadcom, HiSilicon, MediaTek, Mobileye, Nvidia, NXP Semiconductors, Qorvo, Samsung, Skyworks, Texas Instruments and UNISOC.Risk factors (Item 1A)
Places
China
concentrated innamed as a riskWe derive a significant portion of our revenues from Chinese OEMs, and from non-Chinese OEMs that utilize our products in devices they sell into China, which has the largest number of smartphone users in the world.Risk factors (Item 1A)
Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more
Taiwan
depends onnamed as a riskConsequently, a significant or prolonged military or other geopolitical conflict involving China and Taiwan could severely limit or prevent us from receiving chipset supply from Taiwan, which would have a material adverse impact on our business (and likely on the semiconductor industry as a whole).Risk factors (Item 1A)
Also named by AAOI, AAPL, AB, ADI, AEHR, ALAB, AMAT, AMD and 50 more
India
concentrated innamed as a riskActs of war, terrorism, geopolitical conflicts, political instability or tensions (such as the current geopolitical tensions involving China and Taiwan), natural disasters, the effects of climate change, pandemics or other health crises affecting any of the regions in which we operate, and particularly those in which our customers, suppliers, manufacturing facilities and/or significant portions of our workforce are concentrated, could significantly disrupt our business by, among others: reducing demand for our products and services or end-user devices incorporating our products or intellectual property; impairing our customers’ or licensees’ ability to purchase or pay for our products, services or intellectual property; delaying or preventing our suppliers from providing us with critical components or raw materials; delaying or preventing our foundry or semiconductor assembly and test providers from manufacturing, assembling or testing our products; preventing us from manufacturing products or shipping finished products; damaging or destroying inventory; delaying or preventing network operators from upgrading their wireless networks to meet new technology standards; or preventing a significant number of our employees, or employees who perform critical functions, from performing their duties for us.Risk factors (Item 1A)
Also named by A, AAPL, ACN, AJG, AKAM, AMZN, AOS, AVGO and 54 more
Singapore
operates innamed as a riskthe primary warehouses where we store finished goods for fulfillment of customer orders are located in SingaporeRisk factors (Item 1A)
Also named by A, AAPL, ALAB, AMAT, ANET, APP, AVGO, DLR and 12 more
South Korea
depends onnamed as a riskWe derive a significant portion of our revenues from Chinese OEMs and from non-Chinese OEMs that utilize our products in devices they sell into China (which has the largest number of smartphone users in the world); our key suppliers and their manufacturing foundries and assembly, test and other facilities are primarily located in Taiwan and Korea; our manufacturing facilities for RFFE and RF products are located in China, Germany and Singapore; the primary warehouses where we store finished goods for fulfillment of customer orders are located in Singapore; and a significant portion of our workforce (including engineering and other technical personnel) is based in India.Risk factors (Item 1A)
Also named by AAPL, ALAB, AMAT, BE, BWA, CPNG, CROX, ENTG and 11 more
Germany
operates inThe front-end processes primarily take place at manufacturing facilities located in Germany and Singapore and involve the imprinting of substrate wafers with the structure and circuitry required for the products to function (also known as wafer fabrication).Business (Item 1)
Also named by APO, AXGN, BF/B, CPRT, DASH, EBAY, GD, GDDY and 12 more
Commodities and inputs
Regulators
U.S. Department of Commerce
subject tonamed as a riskFor example, in May 2024, the U.S. Department of Commerce revoked the export license under which we previously sold 4G and certain other integrated circuit products to Huawei, which is one of the largest smartphone OEMs in China.Risk factors (Item 1A)
Also named by AIR, ALAB, AMKR, AXON, DELL, DLTR, ENTG, FSLR and 9 more
United States International Trade Commission
subject tonamed as a riskWe have been and may continue to be involved in litigation and/or be required to appear in front of administrative bodies (such as the United States International Trade Commission) to defend against patent assertions against our products by third parties, including companies attempting to gain competitive advantage or leverage in licensing negotiations.Risk factors (Item 1A)
Chinese government
subject tonamed as a riskFinally, government policies in China that regulate the amount and timing of funds that may flow out of the country have impacted and may continue to impact the timing of our receipt of, and/or ability to receive, payments from our customers and licensees in China, which may negatively impact our cash flows.Risk factors (Item 1A)
Also named by MPWR
Laws and programs
OECD Pillar Two
subject to · minimum tax of 15%named as a riskThe OECD, representing a coalition of member countries, has made certain changes, including the Pillar Two framework, which imposes a minimum tax of 15% in each taxing jurisdiction.Risk factors (Item 1A)
Also named by APO, BAM, BAX, BF/B, CHRW, COHR, CPNG, CRM and 45 more
U.S. Export Administration Regulations
subject tonamed as a riskThese include, among others, Regulations related to: patent licensing practices; antitrust, competition and competitive business practices; protection of intellectual property; cybersecurity; privacy and data protection; AI technologies; imports and exports, such as the U.S. Export Administration Regulations administered by the U.S. Department of Commerce; trade and trade protection including tariffs; foreign policy and national security; the flow of funds out of certain countries (e.g., China); automotive industry safety, security and quality standards; environmental protection (including climate change), health and safety; supply chain, responsible sourcing (including the use of conflict minerals) and human rights; spectrum availability and license issuance; adoption of standards; taxation; labor, employment and human capital; corporate governance; public disclosure and reporting (including reporting of sustainability-related data); and business conduct.Risk factors (Item 1A)
Also named by ADI, ALAB, AMD, APP, ARW, AVGO, CARR, CDRE and 40 more
Foreign-derived deduction eligible income (FDDEI)
subject tonamed as a riskIf U.S. tax rates increase and/or the FDDEI deduction is eliminated or reduced in the future, our provision for income taxes, results of operations and cash flows would be adversely affected (potentially materially).Risk factors (Item 1A)
Also named by NVDA
U.S./China trade and national security policies
subject tonamed as a riskPolitical actions, including trade protection and national security policies of the U.S. and Chinese governments, such as tariffs, bans or placing companies on restricted entity lists, have in the past, currently are and could in the future limit or prevent us from transacting business with certain of our Chinese or Chinese-affiliated customers or suppliers, limit, prevent or discourage such customers or suppliers from transacting business with us, or make it more expensive to do so.Risk factors (Item 1A)
Cellular standard-essential patents (FRAND licensing)
earns fromnamed as a riskA significant portion of QTL’s licensing revenues is derived from licensees under Qualcomm’s cellular standard-essential patents.Business (Item 1)
Technology
5G
earns fromnamed as a riskOur growth also depends significantly on our ability to develop and patent 5G and next-generation wireless technologies, and to develop and commercialize products using these technologies.Risk factors (Item 1A)
OFDMA-based products (4G/5G)
earns fromThe vast majority of QTL revenues have been generated through our licensees’ sales of OFDMA-based products (including 4G-enabled and 5G-enabled multimode devices), such as smartphones and other devices.Business (Item 1)