Qualcomm's mobile phone chips have been selling at an unexpectedly higher rate [1]. The firm just raised its financial forecast from earnings of 35-37 cents a share to 41-42 cents per share. Projected revenue is now $2.1 billion to $2.2 billion. Last year at this time Qualcomm reported net income of $593 million, or 34 cents a share on revenue of $1.83 billion.

The growth is mostly attributed to the increase in the total number of chips sold, but the average selling price for CDMA devices also increased to $214, up from prior estimate of $217. Couple that with the increased take up of 3G phones in the U.S. and Europe [2], over EV-DO and W-CDMA, respectively.

For more on Qualcomm's forecast:
- see this report [3] from the WSJ (sub. req.)

Related Article:
Qualcomm posts 14% hike in Q4 profit Article [4]