This low-end user demand is forcing Caterpillar dealers to reduce their inventory levels, which is further impacting sales of the company.

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The entry-level quad-core chipsets will help Qualcomm address the growing demand for low-end phones that can offer higher levels of performance.

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Rising demand for low-to-mid end mobile phones from value-conscious customers will continue to put pressure on average phone pricing.

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"Heading into this year, we are expecting a slow recovery in the component business due to reduced capital expenditures, while competition in the set business will intensify further as demand slows and the mid- to low-end market expands, " he added.

ENGADGET: Samsung reports $8.27 billion in profits for Q4 2012 HD

No surprise here, demand for new mortgages plunged to a 13-year low after the homebuyer tax credit expired at the end of April.

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