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Qualcomm CEO: FLO TV On The Block

7/23/2010 02:11:37 PM Eastern

San Diego -- Qualcomm CEO Paul Jacobs told investors that the company's FLO TV service unit will probably be sold.

"It will get done in the next year but I don't think I can be much more specific than that," Jacobs said on a conference call following the release of the company's third quarter financial results. "A lot of interesting discussions. It's early days," he added.

The mobile TV subscription service for handheld and vehicle-based devices has failed to gain much traction in the market since its debut in 2008.

Qualcomm reported earnings of $767 million during the three-month period ending June 27, compared with $737 million during the same period last year. Revenue declined 2 percent to $2.71 billion from $2.75 billion.

The company also raised its profit and revenue estimates for 2010.