San Francisco (CNN Business) The world's biggest maker of smartphone chips and modems is warning that the coronavirus could disrupt the global mobile industry. Qualcomm QCOM said on Wednesday that it has lowered its earnings guidance for next quarter in part due to the virus outbreak in China. "There is significant uncertainty around the impact from the coronavirus on handset demand and supply chain," the company's chief financial officer, Akash Palkhiwala, said during its latest earnings call. Apple AAPL And the smartphone industry, which is hugely dependent on China for both manufacturing and sales, is likely to take a big hit. Nearly half of Qualcomm's revenue last year came from China, according to the company's latest annual report , and several of its customers includinghave a major presence in China"As the coronavirus situation continues to unfold, our thoughts are with the many Qualcomm employees in China, our customers and suppliers, their families, as well as those who are impacted by this unprecedented situation," Qualcomm CEO Steve Mollenkopf said Wednesday.

Source: CNN February 06, 2020 01:30 UTC