Qualcomm expects smartphone shipments to fall 30 percent in coming months due to the coronavirus pandemic. The company cut its previous projections for the next quarter.

Qualcomm did still beat its Q2 revenue expectations. Net income was down dramatically, dropping 29 percent year-over-year to $ 468 million.

Qualcomm says there are three coronavirus-related factors that could impact sales in the coming months. Qualcomm says the three factors are likely to impact sales.

The company cites other, non-coronavirus-related factors that may impact its revenue in the company quarter. The company also cites its licensing dispute with Huawei, network rollouts, and its dependance on’small number of customers and licensees’.