After MediaTek issued a negative outlook regarding the 2023 mobile phone market, Qualcomm, MediaTek's top rival, also admitted during its latest earnings call that the weak demand situation of the mobile phone market is far more severe than previously expected. Qualcomm also directly pointed out that although it hopes the mobile phone demand in China can bounce back in the traditional second-half peak season, it has not seen any signs of recovery so far, thus it is not optimistic about the market outlook.