Qualcomm CFO Trims Operating Expenses as Industry Faces Down High Inventories

Qualcomm Inc., the San Diego-based technology company that sells chips, software and other products, last month slashed its forecast for smartphone shipments again and offered a gloomy assessment of the quarters ahead. The company cut its sales projections for handset chips to a low-double-digit percentage decline from a mid-single digit fall before, joining other consumer-facing businesses that confront a sharp turn in demand after a pandemic-fueled boom. Qualcomm is working to reduce operating costs and double down on new areas, including its automotive business. WSJ's CFO Journal spoke to Chief Financial Officer Akash Palkhiwala about the company's spending plans, the…