Qualcomm’s Net Rises 22 Percent

Chip maker Qualcomm Inc., continuing to benefit from sales of smartphones, issued strong fourth-quarter results and upbeat projections that sent its stock price sharply higher.

The San Diego-based company, known for selling communications chips as well as licensing patents to handset makers, also said it is reaping the benefits as consumers in emerging markets adopt cellphones that use faster 3G cellular networks.

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