Qualcomm Inc reduced its outlook for fiscal 2015, saying it expects its newest Snapdragon mobile chip will not be used in a major customer's flagship smartphone, sending its shares lower. The San Diego, California, company also warned that "challenges" with another of its chips had hurt its competitiveness in China, where Qualcomm has been disappointed with growth that has fallen short of expectations. It now expects non-GAAP diluted earnings per share for fiscal 2015 between $4.75 and $5.05, compared to a previous range of $5.05 to $5.35. Top smartphone maker Samsung Electronics Co Ltd decided not to use the new Qualcomm Snapdragon 810 processor for its next flagship Galaxy S smartphone after the chip overheated during testing, Bloomberg reported earlier this month.
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