Qualcomm's recent days had been very difficult. The situation of the company's market could be described as "crisis around every corner" and "surrounded by perils." It was on the verge of "life and death." Since last year, Qualcomm conducted three rounds of lay-offs and fired 80% of their R&D personnel to save labor expenses. The company's main executives took the initiative to lower their salaries and earned only 20% of their previous salary. They also implemented a variety of other cost-saving methods. They were doing all they could to save money and avoid expanding their losses.
Even so, although they gave their all, Qualcomm's net loss for this year was still as high as $3 billion! Qualcomm, which maintained their profitability for many years, suffered such a large loss for the first time.
How was this possible?
