Qualcomm used to have a monopoly on mobile chips. Back when Exynos chips didn’t support LTE, Samsung started using Snapdragon processors in its devices in the US. Around the same time, NVIDIA Tegra processors started their descent into forgotten hardware.

Qualcomm grew a lot in those times, and started making better chips because of it. The old Snapdragons were pretty poorly designed chips, the old S series chips weren’t very good compared to the competition. But Qualcomm was on top, and no one could touch them.

Unfortunately, it seems that the company is in a bit of a financial pickle. Qualcomm announced that it will be cutting $1.4 billion in spending, as well as 15 percent of its workforce. I’m no economist, but maybe the company just grew too fast, and now that Samsung is using its own Exynos chips for its flagships, Qualcomm is just too big for its own good and needs to downsize to stay efficient.

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