Qualcomm announced a settlement of the NDRC China investigation. The very dense press release raises as many questions as it answers. Bad news: a 46% reduction in royalty rates. Good news: lots of friends in China, audit rights and the ability to charge royalties for TD phones. Hard to fully gauge, but seems like a net positive.
The semiconductor industry is not really a growth industry anymore, and resembles the steel industry as much as anything. That means scale matters, leaving M&A as the most likely path to growth, and possibly survival.
I recently had the chance to catch up with a few contacts from China who think the end is in sight for Qualcomm’s troubles with the government, but timing is uncertain and will likely result in a reduction in royalty rates.
Today was a busy news day on many fronts. In particular, two notable companies filed to go public – New Relic and Hortonworks. These two companies do not have a […]
Alibaba has a lot going on. Parsing through its S-1 is not an easy task. But I have begun to view the company playing three different roles: Alibaba as a […]
Over the next few days I will lay out some of my thoughts on Alibaba. I have been reading through their S-1 filings since they became available and a few […]
In an interview with Bloomberg Businessweek today, Marc Andreessen issued another clarion call for change. If software is going to eat the world, then when it comes to the finance […]
After the big news this morning about HP splitting in two pieces, I wanted to put in my two cents. I have followed HP for a long time, but have […]
A few weeks back, I read a post on Mark Suster’s Blog Both Sides of the Table called “The Changing Structure of the VC Industry”. It evoked a very strong […]
Amazon reported disappointing results on Thursday, knocking almost 10% off the stock on Friday. I think the company still has a lot going for it, and that this reaction is […]