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FLO TV exit will cost Qualcomm up to US$175m

Technology company Qualcomm’s exit from the mobile TV business will cost it up to US$175 million (€123 million), the company said when reporting fourth quarter results.

The restructuring charges will come as the company decides how it will exit the mobile TV sector. It could sell its FLO TV business and the associated spectrum or seek another way out of the business. The company recorded revenues of US$2.95 billion for the quarter, a 10% year-on-year increase and operating profit of US$837 million, a 40% increase year-on-year.